European stocks slip as mixed earnings offset M&A cheer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 25 2024
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Source: Yahoo Finance
- European Stocks: European stocks edged lower due to mixed earnings from companies like Nestle and Deutsche Bank, while the FTSE 100 hit fresh peaks on mining sector M&A news.
- Market Performance: The pan-European STOXX 600 index was down 0.1%, with losses in food, beverage, and industrial goods sectors.
- Company Earnings: Nestle's shares dropped 3.4% after missing first-quarter sales growth estimates, while Deutsche Bank slipped 0.6% despite upbeat profits from BNP Paribas.
- Earnings Outlook: First-quarter earnings are expected to decrease by 12.1% compared to the previous year, impacting market performance.
- Other Highlights: Spain's benchmark index rose, Sanofi and Delivery Hero reported positive quarterly results, while Adyen and Telia saw declines in their stock prices.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
