European stocks go down

European stocks go down

On Thursday, European stocks declined after a mixed pack of earnings from the region as well as worries for the euro zone economy resurfaced following a dismal German sentiment poll yesterday.

Eventually, the Finnish telecom network equipment maker went down by 10% that appears to be its steepest slump for 18 months after it posted a shocking quarterly loss, referring to hard competition in its core networks business.

The pan-European STOXX 600 index tumbled by 0.1% following an eight-session ascend in the benchmark index recorded on Wednesday.

Nokia's dive helped to bring the tech index 0.9% down after yesterday’s 4% leap.

The UK’s FTSE lagged, affected in part by the country's number three homebuilder Taylor Wimpey that warned its full-year margins would be a bit lower. Moreover, it also suppressed its peers.

Sainsbury's went down by 5% after the UK’s competition watchdog blocked the retailer's proposed 7.3 billion pound takeover of Walmart-owned Asda.

German heavyweight Bayer went up because the drug and farming supplies company reported a 45% leap in quarterly core earnings against the backdrop of seed maker Monsanto's acquisition.

Besides this, semiconductor maker ASM rallied by 7.8% to the top of the regional index having beaten first-quarter objectives, while Germany's Dialog Semiconductor headed north by over 1% having predicted higher than expected gains in the first quarter.

Aside from that, the banking index headed south by 0.3%, suppressed by Barclays as well as Swedbank stocks.

Britain's Barclays declined having posted a 10% dive in quarterly gain because its under-pressure investment bank struggled with tough financial markets.

Eventually, Swedbank declined more than 3% having posted an estimate-beating first-quarter gain because the Swedish lender admitted to previous faults in fighting money laundering.

Deutsche stocks jumped by 4.7%, while those of Commerzbank decreased by 2.5%.


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