Europe ends lower amid earnings season

Thursday, 25. April 2019 17:35

Markets in Europe closed in the red on Thursday as investors digested the latest set of corporate earnings. Before the bell, firms including Peugeot, Bayer, Barclays, Wirecard and UBS posted their quarterly results. Elsewhere, Deutsche Bank and Commerzbank announced their talks about a potential merger failed and the United Kingdom Competition and Markets Authority (CMA) blocked Sainsbury's planned acquisition of Asda.

The FTSE 100 declined 0.50%. The worst performer was Taylor Wimpey, whose stock plunged 5.36%.

The DAX lost 0.25%. Wirecard led the losses as it dropped 3.73%, followed by Continental and Deutsche Bank, down 1.56% and 1.49%, respectively.

The CAC 40 closed 0.33% lower. Peugotu pulled the index down as its shares slid 3.05% after the carmaker said its revenue fell 1.1% to €18 billion in the first quarter.

The euro dipped 0.19% against the dollar to sell for 1.1134 at 5:38 pm CET.

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Breaking the News / NP