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European stocks fall amid oil rise and earnings pressure
European stocks declined today, Thursday, with the STOXX 600 approaching to erase most of its gains after rising in the previous session. This movement was driven by investors assessing corporate earnings results, rising oil prices, and increasing inflation fears. The European stock index dropped by 0.84%, reaching 639.05 points, amid very cautious expectations due to earnings reports and political tensions, especially in France. European banks also saw a decline, with Barclays’ shares falling by 2.5%, while companies such as Hermes experienced a significant drop of 6.7% following results that fell short of expectations. Meanwhile, Nestlé’s shares rose by 2.3% thanks to sales growth. Additionally, oil prices increased by more than 2% due to Houthi attacks in Saudi Arabia, fueling inflation worries and investor concerns about energy supply disruptions and their impact on European markets, which heavily depend on energy imports.
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