Lots of results, investors aren't impressed
STOXX falls 0.9%
Bayer 12% lower, Brenntag down 9.6% both after results
U.S. share futures steady
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LOTS OF RESULTS, INVESTORS AREN'T IMPRESSED
It's been a busy first hour of trading, with a slew of corporate updates which, in combination, have left Europe's main share indexes trading lower.
The broad STOXX 600 benchmark is down 0.9%, .STOXX with slightly larger falls for Germany's Dax .GDAXI and France's CAC 40 .FCHI, while London's FTSE .FTSE is down 0.75%.
The biggest faller on the STOXX is Bayer BAYGn.DE down 12% to 20-year lows after the German group reported a Q3 earnings miss, cut its FY outlook, and indicated a likely decline in earnings next year.
The second biggest faller was also German, chemicals distributor Brenntag BRGn.DE, down 9.4% after reporting a near 5% drop in its quarterly core profit.
There appeared to be better news over at AstraZeneca AZN.L which lifted its 2024 revenue and profit forecast, but investors weren't too impressed, and while the shares saw an initial nudge higher, they were flat 15 minutes into trading.
Sector-wise, stop me if you've heard this before, but worries about Chinese economic growth are weighing on miners .SXPP and luxury stocks .STXLUXP each down nearly 2%. Defence .SXPARO is the only sector in the green.
(Alun John)
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EARLIER LIVE MARKETS POSTS:
EUROPE BEFORE THE BELL - HOLD ON TIGHTCLICK HERE
BITCOIN SPARKLES AS TRUMP TRADES ROLL ON CLICK HERE
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