23 Hrs
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الاقتصادية
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European stocks fall amid bank weakness and rising oil
European stocks experienced the largest decline in three weeks today, Thursday, with the Stoxx 600 index falling by more than 1% to close at 637.74 points, driven by declines in banking sector stocks and a reduced risk appetite due to rising oil prices and French bond yields. The banking index recorded its worst performance since March, with Spanish bank Banco Santander's stock dropping 7.6% due to higher debt costs, and Barclays' stock falling 2.3% after quarterly earnings that missed expectations and the announcement of plans to sack 5% of its staff. Meanwhile, the healthcare sector saw a 2.1% rise, with Belgian pharmaceutical company UCB’s share increasing by 21.6%. Tensions in the Middle East and political uncertainty in France have heightened risks and market volatility, with the gap between French and German 10-year bonds reaching its highest level in 15 years.
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