Glum Earnings Weigh on European Stocks; Traders Eye ECB Outlook
The La Defense business district of Paris, France.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
European stocks dropped on Thursday following a slate of downbeat corporate earnings. Investors also focused on the European Central Bank’s policy outlook after it left rates changed as expected.
The Stoxx 600 slipped 0.5% by the close, recovering from an earlier decline of as much as 1.2% and close to erasing its gains for 2023. Automakers slumped following disappointing quarterly results from Mercedes-Benz Group AG and Volvo Car AB. Consumer products and luxury goods-makers also underperformed, while real estate and chemicals gained.