European Stocks Fall for Eighth Session, Energy Concerns Weigh Sentiment
European stock markets closed lower again on Wednesday (April 29), extending their decline to an eighth consecutive session. Market participants believe rising energy prices risk keeping interest rates high for longer and weighing on earnings prospects, at a time when the earnings season is producing increasingly selective stock movements.
The decline occurred as the US signaled it would maintain its blockade of Iranian tankers in the Strait of Hormuz for the time being. This impasse extended the bottlenecks on energy exports and triggered further increases in energy prices in Europe, maintaining cost pressures on sectors sensitive to energy inputs.
Financial and industrial stocks continued their correction. Munich Re, Allianz, and Siemens fell by several percent, while Deutsche Bank weakened after posting first-quarter results that beat expectations but highlighted increased credit provisions, which added to investor caution regarding asset quality.
On the issuer side, Mercedes-Benz and Iberdrola also closed lower after releasing their results. In contrast, Airbus and Adidas surged after delivering more optimistic guidance, confirming that the market narrative now relies heavily on a combination of energy factors, interest rates, and the quality of each company's outlook.
Source: Newsmaker.id
