Europe markets close lower as positive momentum stalls; UBS, Watches of Switzerland rise
Publishing timestamp: 2023-11-07 11:56:17
Summary
European stock markets closed lower as positive momentum stalled and third-quarter earnings were reported. The oil and gas sector dropped due to lower oil prices and Saudi oil giant Aramco reporting a decline in profit. Tech stocks rose, and Watches of Switzerland reported higher revenue and expected to double profits by 2028. UBS gained after releasing its quarterly results. U.S. stocks were higher, and Portugal stocks fell after the Prime Minister resigned. Oil prices retreated after Chinese exports fell. French prosecutors opened an investigation into Sanofi for possible market manipulation. U.K. house prices rose, and Persimmon reiterated its profit guidance. Metro Bank reported a dip in assets but said deposit outflow rates had normalized. UBS reported a net loss. U.K. retail sales rose but remained weak. Aramco posted a drop in net profit. China reported worse-than-expected drop in exports. Overall, stocks have been volatile but bounced back last week.
Sentiment: MIXED
Tickers: .NDX, .FTMIB, PSN-GB, .GDAXI, .DJI, .SPX, .FCHI, SAN-FR, .FTSE, @LCO.1, @CL.2, @LCO.3, UBSG-CH, .STOXX, WOSG-GB,
Keywords: watches of switzerland group plc, united states, earnings, ice brent crude (apr'23), ubs group ag, stoxx 600, jerome powell, breaking news: europe, switzerland, business news, persimmon plc,
Source: https://www.cnbc.com/2023/11/07/european-markets-live-updates-stocks-news-data-and-earnings.html