European Stocks Decline Amid Anticipation of Corporate Results and Central Bank Decisions

SadaNews - European markets opened lower on Tuesday, giving up the gains made at the beginning of the week and the new month, with investors awaiting quarterly results from several major companies and expected decisions from central banks.

The overall European index "Stoxx 600" fell by 1.1%, reaching 565.49 points. The British "FTSE" index dropped by about 0.7% to 9631.20 points, while the German "DAX" index decreased by 1.5% to 23758.59 points. The French "CAC 40" fell by 1.4%, reaching 7995.05 points.

European stocks had opened the new week's trading on a positive note supported by profit expectations, but cautious sentiment returned to dominate investors today, coinciding with the release of third quarter results from several companies including BP, Philips, Givaudan, Associated British Foods, and Ferrari.

Earlier today, Saudi Aramco announced a 0.9% increase in its profits in the third quarter, thanks to increased production, despite continued pressures on prices.

The results from "BP" are expected to be closely monitored by investors after the company’s share rose by about 1.2% yesterday, following its announcement of the sale of some pipeline assets in the Permian and Eagle Ford areas in the United States to Sixth Street for $1.5 billion.

Globally, stock markets in Asia and the Pacific saw mixed trading overnight, while U.S. stock futures dipped slightly after a strong session on Wall Street yesterday.

The S&P 500 and Nasdaq Composite indexes closed higher, supported by sustained momentum in AI stocks, with Amazon’s share soaring to a record level after signing a $38 billion deal with "OpenAI," ending the session up by 4%.