FX.co ★ European Stocks Slip but Head for Solid Monthly Advance

On the last trading day of October, the STOXX 50 and STOXX 600 indices both saw losses, each declining by approximately 0.4% amid a backdrop of mixed corporate earnings influencing investor attitudes. Linde, the leading company in the industrial gases sector, experienced a nearly 3% drop after reporting revenues that fell short of expectations. Meanwhile, AXA shares fell by over 3%, despite the insurer maintaining its annual targets. Saint-Gobain's stock also decreased by 2.9% following a 0.2% decline in third-quarter revenue on a comparable basis. Telefonica reported a 2% decline in shares following announcements of an upcoming dividend cut as part of a new strategy plan set to be revealed next week. Companies like ASML Holding, Deutsche Telekom, and Allianz also experienced declines, dropping 1.1%, 1.7%, and 1.2% respectively. However, Danske Bank surged 2.2% and emerged as a leading performer within the STOXX 600, as its profit slightly exceeded forecasts. Additionally, Anheuser-Busch and Vivendi both enjoyed gains exceeding 2% each. Over the course of October, the STOXX 50 rose by 2.8% and the STOXX 600 climbed by 3%.