European stocks end lower, luxury, utilities drag down
European stocks closed lower on Monday (July 15), after weak earnings from luxury companies weighed on the market, while trading remained fragile following the assassination attempt on US presidential candidate Donald Trump over the weekend.
The STOXX 600 index closed at 518.73 points, down 5.35 points or -1.02%.
The French CAC-40 index closed at 7,632.71 points, down 91.61 points or -1.19%, the German DAX index closed at 18,590.89 points, down 157.29 points or -0.84%, and the London FTSE 100 index closed at 8,182.96 points, down 69.95 points or -0.85%.
European stocks fell after three straight days of gains, with Burberry shares falling 16.1% after it warned about profits, scrapped dividends and replaced CEO.
Shares of Swatch Group, the world's largest watchmaker, fell 9.8% after reporting a decline in first-half sales and earnings.
Luxury stocks fell nearly 3%, and personal and household goods stocks fell 2.1%.
Mining stocks fell 1.6%, trailing base metals prices after data showed China's economy grew at a slower pace than expected in the second quarter.
European renewable energy stocks including Orsted, RWE, Nordex, Westas and Siemens Energy fell 3.4-6.4%, with traders saying the declines were a result of the increasing chances of Trump winning the US presidential election, with Trump saying he would halt offshore wind development if elected.
The market's focus now is on comments by European Central Bank (ECB) President Christine Lagarde ahead of this week's ECB meeting.
The STOXX 600 index closed at 518.73 points, down 5.35 points or -1.02%.
The French CAC-40 index closed at 7,632.71 points, down 91.61 points or -1.19%, the German DAX index closed at 18,590.89 points, down 157.29 points or -0.84%, and the London FTSE 100 index closed at 8,182.96 points, down 69.95 points or -0.85%.
European stocks fell after three straight days of gains, with Burberry shares falling 16.1% after it warned about profits, scrapped dividends and replaced CEO.
Shares of Swatch Group, the world's largest watchmaker, fell 9.8% after reporting a decline in first-half sales and earnings.
Luxury stocks fell nearly 3%, and personal and household goods stocks fell 2.1%.
Mining stocks fell 1.6%, trailing base metals prices after data showed China's economy grew at a slower pace than expected in the second quarter.
European renewable energy stocks including Orsted, RWE, Nordex, Westas and Siemens Energy fell 3.4-6.4%, with traders saying the declines were a result of the increasing chances of Trump winning the US presidential election, with Trump saying he would halt offshore wind development if elected.
The market's focus now is on comments by European Central Bank (ECB) President Christine Lagarde ahead of this week's ECB meeting.
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