European shares head for first monthly decline in six, STOXX 600 set to fall 1.5%

  • STOXX 600 was on track for its first monthly decline in six months.
  • 1.5% monthly decline was projected, while the third quarter was nearly flat.
  • Glencore gained 1.4% after Australia approved Hunter Valley operations through 2045.

European shares were on track for their first monthly decline in six months, with the pan-European STOXX 600 (regional stock-market index) up 0.7% at 642.69 points by 0722 GMT on Wednesday. The index was set to lose 1.5% for September, while the third quarter was nearly flat. Higher global bond yields have pressured stocks as investors anticipate interest-rate increases to contain inflation linked to surging energy prices. Oil edged higher after US President Donald Trump denied he would ease sanctions on Iran, while Qatar pushed for peace talks. The 10-year German bund yield eased for a second day. Faster-than-expected second-quarter growth in Britain and hotter-than-expected September inflation in France added to the data flow, with Germany’s September inflation report due later. Mining stocks rose, led by Boliden AB and Rio Tinto, while media shares lagged. Glencore gained 1.4% after receiving approval to continue operating its Hunter Valley thermal coal project in Australia through 2045.

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