Europe's STOXX 600 slides on global risk-off mood, mixed earnings
European shares fell to their lowest in over two weeks, with the STOXX 600 index down 1.2% amid a global risk-off mood. Investors reacted to mixed earnings reports, with Edenred's shares dropping 8.5% due to a profit growth slowdown forecast, while Geberit gained 2.2% after raising its sales outlook. BP reported a smaller-than-expected profit drop, but its shares remained stable. The market sentiment was further clouded by uncertainties from the U.S. government shutdown affecting economic data and concerns over AI deals.
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Nov 4 (Reuters) - European shares fell on Tuesday to the lowest point in more than two weeks, echoing a broader risk-off mood across global markets, as investors gauged a mixed bag of earnings reports.
The pan-European STOXX 600 index (.STOXX) was down 1.2% at 565.73 points, as of 0813 GMT, with all major bourses in the red.
European stocks started the month on a tepid note after recording gains for four consecutive months, as investors weighed multiple prevailing risks.
The lack of official U.S. data due to an ongoing U.S. government shutdown has clouded the outlook for Federal Reserve’s rate cuts, while traders are increasingly nervous about the multiple deals struck between major players in the artificial intelligence space.
Back home, corporate third-quarter earnings were also in full swing.
Shares of Edenred (EDEN.PA) slid 8.5% after the French vouchers and benefit cards provider projected its annual core profit growth to slow down in 2026.
Geberit (GEBN.S) gained 2.2% after the Swiss plumbing materials maker nudged its full-year sales outlook higher.
In the UK, BP (BP.L) reported a smaller-than-expected drop in third-quarter underlying profit, though its shares were trading little changed.
