European stocks plummeted
Publish Date : 2019/11/05 - 11:17

European stocks fell slightly on Tuesday, after touching their 2015 highs on Monday. The decline in Pandora's Danish jewelry sales as well as weak forecasts for the Siemens Gamesa wind energy company led to a fall in stocks.

The STOXX 600 index fell 0.03%.

Shares such as the healthcare SXDP, the utilities SX6P, and the real estate SX86P had the highest decline in trading.

Telecoms index SXKP declined 0.5%, the most among the European sub-sectors.

Overall, good seasonal earnings by European companies and the hope of resolving trade disputes helped raise European stocks since the beginning of the month, bringing the STOXX 600 to a close in April 2015.

So far, more than half of European companies have published earnings reports, most of which have been beyond analysts' poor forecasts.

But Pandora shares fell 12% on Tuesday due to their very low sales level.

Shares of Spanish-German company Siemens Gamesa also plummeted 10.3% to their lowest level since January, due to poor forecasts for 2020.

Source: Reuters

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