Europe stocks post worst day of the year; Tobacco firms weigh | Malay Mail

The pan-regional STOXX 600 index dropped 1.9 per cent in its biggest one-day decline this year, accelerating losses after a lower opening on Wall Street. — Reuters picFRANKFURT, April 21 ― European shares lost nearly 2 per cent yesterday, after hitting record highs a day earlier, as tobacco companies weighed on London stocks and many regional indexes edged off pre-pandemic highs.

After bumper earnings reports from US banks last week, investors are awaiting results from mega-cap technology firms, which helped a strong US market recovery last year but have lagged recently. BMW's first-quarter earnings yesterday showed a much stronger bounce back than expected, helped by higher prices and strong Chinese demand.

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