Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

European shares inch lower as healthcare stocks drag

Published 29/04/2020, 08:41
© Reuters.
STOXX50
-
BP
-
SHEL
-
NOVN
-
ROG
-
MBGn
-
TTEF
-
VOWG_p
-
STOXX
-
AMS
-
SXAP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
April 29 (Reuters) - European shares slipped on Wednesday as
a slide in healthcare stocks outweighed upbeat earnings outlook
from German automakers and sensor specialist AMS as well as a
bounce in oil prices.
The pan-European STOXX 600 .STOXX was down 0.12% by 0723
GMT and blue-chips .STOXX50 dropped 0.4% as shares in
drugmakers Roche ROG.S and Novartis NOVN.S dragged.
Shares in BP BP.L , Total TOTF.PA and Royal Dutch Sell
RDSA.AS gained between 1.7% and 2.6% as crude prices rose on
the back of lower-than-expected rise in U.S. stockpiles. O/R
Sensor specialist AMS AMS.S jumped 10.8% to the top of
STOXX 600 as it expects the impact from the coronavirus in the
second quarter to be limited. Automakers .SXAP took heart after Daimler DAIGn.DE
forecast operating profit at its Mercedes-Benz Cars & Vans
division to be above the prior-year level and Volkswagen
VOWG_p.DE said it expected to be profitable on a full-year
basis. However, profit expectations for the second and third
quarters continued to deteriorate sharply, with Refinitiv data
pointing to a 40.4% decline in earnings for companies listed on
the STOXX 600, versus 37% a week ago.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.