European shares flat, investors sift through earnings deluge

This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXNPEG6S0I0_L.jpg

The pan-European STOXX 600 (STOXX) slipped 0.1% by 0716 GMT, oil & gas (SXEP) and chemical (SX4P) leading the declines, while a 1.2% jump in retailers (SXRP) helped counter the losses.

German lender Deutsche Bank AG (DE:DBKGn) rose 1.3%, while Britain’s Barclays Plc (L:BARC) slipped 1.6% as they set aside more funds to protect for potential loan losses as the coronavirus pandemic takes its toll, but both showed improvement at the investment bank.

UK retailer Next (L:NXT) jumped 8.9% and French luxury group Kering (PA:PRTP) rose 5.3% after reporting a smaller-than-expected decline in quarterly sales.

Chemicals giant BASF SE (DE:BASFn) was down 4.2% after saying it still could not provide guidance for full-year sales and earnings due to uncertainty over the economic fallout from the pandemic.

Add Comment