European Stock Exchanges Begin in the Red
The benchmark nearly erased Wednesday’s gains as Barclays missed profit estimates and oil prices rose more than 2%, analysts said.
- On Friday, October 24, the European Stoxx 600 index fell 0.31 per cent to close at 635.77 points, capping a week where the benchmark declined about 1.4 per cent.
- Unrest in France and higher oil prices dampened investor optimism, pushing the yield on France's 10-year benchmark note to a 24-year high this week.
- Barclays fell 2.5 per cent after reporting third-quarter profit before tax of £2.3 billion, missing estimates of £2.4 billion, while Kering dropped 16.6 per cent following weak Gucci brand sales.
- Investors remain cautious while weighing earnings reports against geopolitical uncertainty, with Swissquote senior analyst Ipek Ozkardeskaya noting the luxury sector continues to suffer from the Middle East war.
- Market focus shifts to the Federal Reserve's monetary policy meeting later this week, as investors price in more than a 91 per cent probability the European Central Bank holds rates steady next week.
82 Articles
82 Articles
European equities moved on a narrow scale at the beginning of today ' s Monday meeting, with investors assessing a range of corporate outcomes in the midst of France ' s turmoil, while oil prices declined in the midst of hopes of calming the Middle East conflict.
Kurier
observatorial.comTechnology, high oil prices and various problems in France are pushing prices.
High oil prices, persistent concerns about France's public finances and constantly new concerns about artificial intelligence. Too many problems at the same time for investors, the DAX gave way.
The Economic Times
Times of IndiaGlobal Market: European stocks edge lower as Kering slumps, oil prices rise
European shares slipped as Kering plunged 10.4% following weak Gucci sales, while rising oil prices and French political uncertainty dampened sentiment. The STOXX 600 fell 0.13%, extending losses amid AI stock volatility and debt concerns. Holcim gained 5.2% after raising its earnings forecast, offering limited support to markets.
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