Mixed results for companies pressure European stocks at the close |...

Mixed results for companies pressure European stocks at the close |...
Mixed results for companies pressure European stocks at the close |...
witnessed Today, a retreat from near-record high levels, led by the shares of mining companies, which led the losses due to fears of Chinese intervention, which harmed metal prices, while mixed results for companies and a scheduled meeting of the central bank kept investors in a state of anticipation.

How did the European indices move?

The European Stoxx 600 index closed down by 0.4%, recording 474.04 points, after approaching a record high on Tuesday.

Mining stocks led the losses, with the sector index falling 1.9%, as the Chinese intervention to address the sharp rise in commodity prices affected coal and metal prices.

What is the impact of the companies’ results on the indicators?

A wave of mixed financial results for companies also put pressure on the indices, and Deutsche Bank’s stock fell 6.9%, despite its better-than-expected quarterly results.

French payment company Worldline plunged 15.9 percent, bottomed in the Stoxx 600, due to disappointing results and expectations.

The British FTSE blue chip index fell 0.3%, while the index of locally-oriented medium-sized companies rose slightly after the government indicated an improvement in the economic outlook.

Investors are now awaiting a meeting of the European Central Bank tomorrow, Thursday, where policy makers are expected to keep interest rates unchanged and counter expectations of higher inflation.

Among the gainers, French home appliance company Seib jumped 12.4% to top the Stoxx 600 after the better-than-expected third-quarter results were announced.

Shares of Schneider Electric Electrical Appliances rose 2.4% after reporting more-than-expected growth in quarterly revenue.

The German stock also rose 3.6%, after it raised its forecast for 2021 sales, despite warning that a closure in Vietnam, port overcrowding and a shortage of containers were hurting supply chains.

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I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]