STOXX 600 finishes lower ahead of key earnings reports
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Forvia jumps on supply deal with China's BYD, Xiaomi
SAP, bank earnings in focus this week
Updated at 1600 GMT
By Paolo Laudani, Ankika Biswas and Johann M Cherian
Oct 21 (Reuters) -European shares ended Monday's choppy session in the red ahead of a series of marquee corporate earnings, although stabilising oil prices buoyed the energy sector.
The continent-wide STOXX 600 .STOXX slipped 0.6%, with the real estate sector .SX86P leading with a near 2% drop, while energy stocks .SXEP led gains as oil prices stabilised after a 7% drop last week. O/R
Bourses in top markets Germany .GDAXI, France .FCHI, Italy .FTMIB and Spain .IBEX ended down between 0.6% and 1%.
The STOXX index had ended higher last week, on the back of a rise the week before as well, after the European Central Bank cut its interest rate on Thursday.
Lithuanian central bank governor Gediminas Simkus said on Monday the ECB may need to reduce it below the "natural" level if a fall in inflation became entrenched.
Meanwhile, all eyes are on Deutsche Bank DBKGn.DE, Lloyds LLOY.L and Barclays BARC.L who will kick off earnings reporting for the heavily weighted financials sector this week.
Russ Mould, investment director at AJ Bell, said markets would keep an eye on loan impairments which had seen a relative increase among U.S. banks.
German software behemoth SAP SAPG.DE, which comprises 15% of the country's benchmark DAX index will further set the tone for tech stocks when it reports third-quarter earnings later on Monday.
"Just by way of market cap, (SAP's results) will be pored over with unusual amounts of attention and after ASML's disappointment people, will be looking to another megacap for some reassurance," Mould said.
Lacklustre results from the chip equipment maker ASML.AS had sparked a rout in semiconductor stocks globally last week.
Investors also monitored polls that showed a rising chance of former President Donald Trump winning the Nov. 5 U.S. election, which would be seen as bruising to the European economy. Those odds were reflected in "Trump trades" such as the U.S. dollar and cryptocurrency bitcoin.
Insurance stocks .SXIP were among the losers on Monday, bogged down by Munich Re's MUVGn.DE 3% drop after Jefferies cut its rating on the stock to "hold", expecting little upside.
Coffee and tea company JDE Peet's JDEP.AS jumped 16.3% to the top of the STOXX 600 after it appointed a new chief executive and confirmed its 2024 outlook.
Forvia FRVIA.PA climbed 5.2% after the French car part supplier secured new deals with Chinese automakers BYD 002594.SZ and Xiaomi 1810.HK.
Sanofi SASY.PA dipped nearly 1%. The French drugmaker said it had entered exclusive talks to sell a 50% controlling stake in its consumer health business Opella to U.S. private equity firm Clayton Dubilier & Rice.
Switzerland's SGS SGSN.S fell 2.3% after RBC cut its rating on the testing and inspection company's stock to "underperform".
Reporting by Paolo Laudani in Gdansk, Ankika Biswas and Johann M Cherian in Bengaluru; Editing by Savio D'Souza and Alison Williams
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
