European shares tumbled on Thursday as rising tensions on the Russian-Ukrainian border overshadowed a series of encouraging earnings from companies including Kering, Reckitt Benckiser and Commerzbank.
The pan-European STOXX 600 index closed down 0.69% at 464.55 points. Stocks in the banking and energy sectors led losses as oil prices retreated and benchmark European bond yields dipped for a second straight session.
US President Joe Biden said on Thursday that there are now all indications that Russia is planning an invasion of Ukraine, including signs that Moscow is carrying out a false flag operation to justify it after Ukrainian forces and pro-Moscow rebels exchanged fire.
The CAC 40 index, the benchmark for France’s stock market, fell 0.3%, one of the smallest losses among European peers, with some support from a 5% jump in shares of luxury goods maker Kering, which reported strong quarterly sales growth driven by its Gucci brand. Hermes gained 1.1%.
British group Reckitt Benckiser rose 5.9% after beating sales forecasts for the fourth quarter.
Commerzbank advanced 3.2%. The German lender posted a better-than-expected fourth quarter and drew an upbeat outlook for 2022.
- In London, the Financial Times index dropped 0.87%, to 7,537.37 points;
- In Frankfurt, the DAX index fell 0.67% to 15,267.63 points;
- In Paris, the CAC-40 index lost 0.26% to 6,946.82 points;
- In Milan, the Ftse/Mib index had a devaluation of 1.11%, to 26,669.27 points;
- In Madrid, the Ibex-35 index registered a drop of 0.76%, to 8,671.10 points;
- In Lisbon, the PSI20 index depreciated by 0.08%, to 5,658.54 points.
Source: CNN Brasil
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