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Gloomy earnings hit European stocks, BP jumps | Malay Mail

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BRUSSELS, Aug 4 — European shares slipped today as disappointing earnings reports from Diageo and Bayer took the shine off a jump in growth-linked cyclical stocks, while investors awaited signs of progress on more US fiscal stimulus. The world’s largest spirits maker, Diageo Plc, slid 6.3 per...

A BP logo is seen at a petrol station in London January 15, 2015. — Reuters pic

German drugs and pesticides group Bayer also fell 3.6 per cent as moves to settle lawsuits over its Roundup weedkiller helped drive a €9.5 billion loss. “We’re already trading at high levels in equity markets, from here on it’s going to be more challenging,” said Elwin de Groot, head of macro strategy at Rabobank.

Banking-heavy Italian and Spanish indexes were both higher, as data showed Italy standing out as the main beneficiary of the European Central Bank’s efforts to support a virus-stricken euro zone economy.

 

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