European Stocks Decline
European stocks fell on Thursday, with the STOXX 50 dropping 1.5% and the STOXX 600 losing 0.9%, tracking a global equity sell-off as disappointing results from US megacap companies reignited concerns over AI-related valuations. Investors also kept a close eye on quarterly earnings from European companies, while oil prices extended their gains amid renewed attacks on Saudi Arabian facilities. Hermes tumbled 6.6% after reporting no sales growth in the region encompassing China. Roche fell 1.3% despite posting stronger-than-expected sales, while Thales slipped 1.7% even after raising its full-year outlook. Barclays edged down 0.2% despite reporting a 12% year-on-year increase in profit. In contrast, Nestlé gained 2.3% after reporting strong third-quarter sales growth, supported by robust demand for snacks and pet food in emerging markets.
European stocks fell on Thursday, with the STOXX 50 dropping 1.5% and the STOXX 600 losing 0.9%, tracking a global equity sell-off as disappointing results from US megacap companies reignited concerns over AI-related valuations. Investors also kept a close eye on quarterly earnings from European companies, while oil prices extended their gains amid renewed attacks on Saudi Arabian facilities. Hermes tumbled 6.6% after reporting no sales growth in the region encompassing China. Roche fell 1.3% despite posting stronger-than-expected sales, while Thales slipped 1.7% even after raising its full-year outlook.
Barclays edged down 0.2% despite reporting a 12% year-on-year increase in profit. In contrast, Nestlé gained 2.3% after reporting strong third-quarter sales growth, supported by robust demand for snacks and pet food in emerging markets.