STOXX 600 drops on dour earnings, poised for worst month in a year
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BNP Paribas drops after Q3 results
EU CPI due at 1000 GMT
STOXX 600 down 0.7%
Updated at 0905 GMT
By Pranav Kashyap
Oct 31 (Reuters) -Europe's benchmark index fell onThursday, dragged down by dour corporate earnings, with the benchmarkset to record its worst monthly performance in a year.
The pan-European STOXX 600 .STOXX was down0.7%, falling to its lowest level in nearly two months.
The index is down 2.9% for themonth, poised to drop for a second straight month, and is set tolog its worst monthly performance since October 2023. Its previous steepest monthly drop in that period was a 1.5% decline in April.
This month's sentiment was heavily influenced by the nail-biting U.S. presidential election. The uncertainty surrounding who will takeup residence in the White House sent a wave of investors scurrying towards safe-haven assets like gold XAU= and the U.S. dollar USD=.
"Trump threatening so many tariffs - that concerns what is this going to mean for international trade. We're likely going to see a decrease in productivity in a lot of companies that deal with the U.S., so investors are concerned," said Daniela Hathorn, senior market analyst at Capital.com.
All the STOXX 600 sub-sectors were trading in the red, with the retail sector .SXRP falling the most, with a 2.3% decline.
Rate-sensitive real estate stocks .SX86P also fell over 1%.
Technology stocks .SX8P dropped 1.1%.
Overnight, results from Meta META.O and Microsoft MSFT.O showed Big Tech is stepping up AI investments but the lack of quick and big returns has worried investors. .N
"The results were a little bit underwhelming for investors and you saw that weakness in the Nasdaq, adding to weaker sentiment in the STOXX 600," Hathorn said.
Among individual stocks, TotalEnergies TTEF.PA lost 2.4%after the French oil major's third-quarter adjusted net income hit a three-year low.
BNP Paribas BNPP.PA tumbled 6.2% after the lender reported third-quarter results that lagged its forecast-beating rivals.
Anheuser-Busch InBev ABI.BR lost 3.9% after the Budweiser maker missed estimates for third-quarter profit, revenue and sales volume.
Smith + Nephew SN.L slumped 12.4% after the medical products maker cut its annual underlying revenue growth forecast.
Shell SHEL.L gained 1% after the energy giant's quarterly profit of $6 billionbeat forecasts.
Airbus AIR.PA rose 2.4%after the planemaker picked a successor for its jet-makingarm, while the CEO stays on.
On the data-front, French preliminary inflation was at 1.5% in October, while German retail sales unexpectedly rose in September.
Investors now await Euro zone's flash CPI, Italy's preliminary CPI figures for October, and the bloc's employment data for September. All of them are set to drop at 1000 GMT.
Reporting by Pranav Kashyap in Bengaluru; Editing by Savio D'Souza and Sonia Cheema
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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.
