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European equities go down suppressed by Swiss Re
On Friday, European stocks edged down in early deals because market participants focused on a bunch of mixed company outcomes with insurance company Swiss Re affected after missing revenue estimates.
The STOXX 600 index edged down 0.1%, and it found itself on track to conclude the trading week intact following two straight week of dips. Euro zone blue chips slid 0.2% and Britain's FTSE didn’t change.
Swiss Re appeared to be the greatest drag to the STOXX, with its 3.4% loss, after the world's number two reinsurer told that first-half net revenue went down 35%, ruining hopes.
However, Royal Bank of Scotland that hasn’t derive an annual revenue since 2007, gained 3.5% after the British bank swung to a first-half revenue as its revival continued.
Approximately two thirds of the companies from the MSCI Europe index have already published their outcomes. Of them, 61% have surpassed expectations with second-quarter earnings surge supposed to hit 22%.
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