European Stocks Fall from Records
Both the STOXX 50 and the STOXX 600 reversed early gains to close 0.6% and 0.8% lower on Thursday, respectively, retreating from fresh record highs reached earlier in the session amid pessimistic corporate results.
Siemens shares tumbled 9.1% after the company issued a disappointing profit outlook for next year. 3i Group plunged 17.2% after warning of a more cautious outlook, and Deutsche Telekom reversed early gains to close the session slightly in the red, even after raising its 2025 guidance once again.
On the other hand, Merck surged 4.9% after reporting operating earnings that exceeded market expectations. Also, Novo Nordisk added 1% following reports that it plans to issue a bond to finance its acquisition of Akero Therapeutics.
Source: Tradingeconomics.com