European stocks slip moderately

European stocks slip moderately

On Thursday, European shares headed south moderately, although a series of earnings updates grasped the focus with Sodexo leading losers after the French group downgraded its sales prediction.

The pan-European STOXX 600 declined 0.2%, while euro zone blue chips along with Britain’s FTSE 100 demonstrated a slight dip.

Sodexo went down 3.7%, hitting its lowest value since end-March. The world's second-biggest catering services company after Compass Group had to cut its full-year sales surge objective after weaker-than-expected third quarter outcome.

As for Compass, it inched down too, losing 0.5%.

Meanwhile, British consumer goods Reckitt Benckiser reduced its growth forecast too after the previous month a global cyber attack disrupted its business in multiple markets, thus pushing its stocks down 1.2%.

However, Associated British Foods rallied 3.9%, leading winners on the STOXX, after the company announced its full-year outlook had improved due to a better-than-expected performance demonstrated by its Primark clothing chain.




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