FX.co ★ European Stocks Lower, Corporate Results Disappoint

The STOXX 50 index experienced a 0.5% decline on Thursday, while the STOXX 600 slipped by 0.4%, continuing a downward trend initiated in the previous session. The market was influenced by renewed concerns about the global trade war and the anticipated economic repercussions of proposed tariffs. Concurrently, investors evaluated incoming corporate earnings. Siemens saw a notable decrease in its shares, dropping 3.6% after releasing second-quarter results that failed to meet investor expectations. The company cited "increased uncertainty in the economic environment" and opted to maintain its current full-year financial forecast. Similarly, Merck's shares fell by more than 4% following a downward revision of its full-year guidance. Allianz shares declined by 3.6% after failing to meet profit projections and sustaining its prior forecast. However, Deutsche Telekom experienced a slight increase of 0.2%, buoyed by surpassing revenue expectations and upgrading its full-year outlook. On the downside, the luxury goods sector also faced challenges, with LVMH dropping 2.3% and Kering decreasing by 3.6%.