LONDON — European stocks shifted slightly lower Thursday, amid weak global market sentiment, with investors focused on earnings releases and upcoming data.was moved 0.16% lower by 8:55 a.m. London time, as sectors slipped and major bourses diverged. Insurance stocks led gains, up 0.67%, while retail dipped 0.81%.fell 14% in opening trade after it warned that its annual profits would come in at the lower end of its guidance following a difficult October and subdued consumer spending.
Broader business confidence, meanwhile — which includes services and wholesale trade data — showed a slight decline, dipping to 96 in November from 97 the month before. "After a good start to the period, helped by strong back-to-school sales, we saw increased trading volatility in October, particularly in North America and the UK, reflecting elevated promotional activity and mild weather," CEO Régis Schultz said.
The sentiment has spilled over to Asia, with stocks tied to Nvidia suppliers as well as other chip companies mostly falling.The 62-year-old billionaire and the seven other defendants have been accused of paying over $250 million in bribes to Indian government officials to secure solar energy contracts that could generate more than $2 billion in profits.
"In highlighting these stocks, we decided to look outside of consensus ideas, which are generally well owned, and our aim is to highlight quality stocks that are relatively underappreciated," they said, naming three of their top ideas.The stock market has always pulled back when valuations are stretched as they are now, according to Deutsche Bank macro strategist Henry Allen in a note to clients this week.