Miners knock European stocks lower ahead of key central bank decisions

European shares eased from record levels on Tuesday as traders eyed upcoming central bank meetings for clues on tapering and rate decisions, while a plunge in iron ore prices hurt miners.

The pan-European STOXX 600 index slipped 0.3% as of 0813 GMT, while Asian stocks were mixed on jitters ahead of U.S. Federal Reserve and Bank of England meetings this week where the central banks could scale back pandemic-era stimulus.

Mining stocks led losses, down 2.4% on a fall in the iron ore market and lower copper prices.

The STOXX 600 closed on Monday at a record high on the back of strong earnings and a jump in bank stocks fuelled by expectations of a rate hike by the European Central Bank next year.

However, London-based Standard Chartered slumped 5.7% despite reporting a stronger-than-expected pre-tax profit for the third quarter helped by lower credit charges.

The world’s largest online betting group Flutter Entertainment dropped 6.7% after trimming its full-year outlook due to a run of unfavourable sports results and a temporary exit from the Netherlands.

In a bright spot, meal-kit delivery firm HelloFresh surged 12.6% after raising its sales forecast for 2021, helping Germany’s DAX stay afloat.

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