2023-04-27 10:09:00
The pan-European Stoxx 600 index fell 0.1%.
European stocks fell today, Thursday, despite the issuance of positive results from a group of companies, as the turmoil related to the First Republic Bank continues to raise investor concerns regarding the global banking sector.
The European Stoxx 600 index fell 0.1% by 07:20 GMT, following media stocks fell 1.6%. Shares in Universal Music Group fell 4% following falling core earnings in the first quarter.
Healthcare stocks were the best performer on the index, up 0.9%, according to Archyde.com.
Concerns regarding the banking sector unnerved investors following shares of First Republic Bank tumbled nearly 30% on Wednesday, hitting a record low for the second day in a row.
Despite this, banking shares rose 0.4%, led by “Barclays”, whose share jumped 2.4% following quarterly profits exceeded estimates, following the strong performance of individual services relieved some of the pressure on other major activities.
Unilever shares rose 1.5%, supported by better-than-expected core quarterly sales, following Dove soap maker raised prices once more to cover higher commodity and supply chain costs.
AstraZeneca shares rose 1.7% following earnings and revenue beat expectations in the first quarter.
Investors are awaiting consumer sentiment data in the single European currency area (the euro) for the month of April, which is scheduled to be released at 09:00 GMT.
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