European stocks close lower after flurry of earnings; mining stocks down 3%; UBS falls 2%
Publishing timestamp: 2023-04-25 11:42:43
Summary
European stock markets fell on Tuesday, with most sectors finishing in the red. Earnings reports were in focus, with UBS reporting a 52% net profit decline and Santander beating net profit estimates. Nestle just beat sales estimates but flagged a 0.5% volume decline. Novartis beat sales estimates and raised its full-year earnings outlook. ABB raised its full-year guidance and reported a 72% rise in net profit. U.S. markets slipped as traders awaited earnings from several major companies. Short-sellers increased their bets against two European banks amidst a turbulent month for the global banking sector. Chinese tech giant ByteDance is pushing another app called Lemon8 as its flagship short-video app TikTok faces a potential ban in the U.S. The Federal Reserve policy meeting is on the horizon, adding volatility to the market this week.
Sentiment: NEUTRAL
Tickers: .DJI, .FTSE, WOSG-GB, ABB.N-CH, .SPX, MC-FR, SAN-ES, CSG.N-CH, META, AMZN, .STOXX, WRT-FI, GOOGL, .IXIC, WTB-GB, NOV.N-CH, .GDAXI, MSFT, DTG-DE, FRC, BDNNY, .FCHI, UBSG-CH, NES.N-CH, 0R3T-GB,
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