European stock markets edge lower

Published On: May 19, 2022Categories: Stocks & Shares1.2 min read

The German DAX dropped 1.26% to 14,007.76, the French CAC 40 index declined 1.20% to 6,352.94 and the FTSE 100 index weakened 1.07% to 7,438.09

European stocks slipped Wednesday, as the Stoxx Europe 600 index finished down 1.14% to 433.95.

The German DAX dropped 1.26% to 14,007.76, the French CAC 40 index declined 1.20% to 6,352.94 and the FTSE 100 index weakened 1.07% to 7,438.09.

Of the Stoxx Europe 600 constituents, healthcare provision company Orpea S.A. saw the largest drop Wednesday, as shares tumbled 19.2%

Shares of tourism firm TUI AG and banking company ABN AMRO Bank N.V. plunged 12.9% and 11.9%, respectively.

Zur Rose Group AG, a drug retail company, and food retail firm HelloFresh SE rounded out the top five largest decreases as their stocks plunged 11.2% and 10.8%, respectively.

Siemens Gamesa Renewable Energy S.A., an industrial electronics company, saw the largest increase of the Stoxx Europe 600 constituents, as shares surged 12.6% on Wednesday.

Shares of renewable energy generation firm NEL ASA and transportation services company Aeroports de Paris added 6.6% and 6.2%, respectively.

Earnings come from Julius Baer and EasyJet, and data releases include euro area construction output for March.

Julius Baer Gruppe AG, an investment advisors company, and chemicals company Clariant AG rounded out the top five largest increases as their stocks increased 5.8% and 5.5%, respectively.

Overnight, most Asia-Pacific markets fell sharply on Thursday morning after the heavy losses on Wall Street, but U.S. stock futures were mildly in positive territory.

The pound was down 0.85% against the dollar, and the euro was down 0.60%. Brent crude weakened 1.80% to $109.92.

The yield on the 10-year gilt rose 0.81 basis points to 1.869%, and the yield on the German 10-year bund increased 0.019 basis points to 1.03%.

About the Author: Jonathan Adams

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