European Stocks Experience Decline

by Warren Seah

The European stock market witnessed a decline on Thursday, with the Stoxx Europe 600 index (XX:SXXP) finishing down 2.34% at 447.22.

Index Performance

  • The French CAC 40 index (FR:PX1) dropped 3.13% to 7,082.29.
  • The German DAX (DX:DAX) experienced a decline of 2.57%, closing at 15,528.54.
  • The FTSE 100 index (UK:UKX) fell 2.17% to 7,280.50.

Top Performers and Decliners

Among the Stoxx Europe 600 constituents, the fossil fuels company Orron Energy AB (SE:ORRON) faced the largest decline as its shares dropped by 9.2%.

The real estate firm Vonovia SE (XE:VNA) and retail company THG PLC (UK:THG) both witnessed a decline of 7.4%.

Viaplay Group AB Series B (SE:VPLAY), a media/entertainment company, and air transport company Wizz Air Holdings PLC (UK:WIZZ) also faced significant decreases in their stock prices, experiencing declines of 6.8% and 6.7% respectively.

On the other hand, Samhaellsbyggnadsbolaget i Norden AB Series B (SE:SBB), a technology company, observed the largest increase among Stoxx Europe 600 constituents, with shares surging by 14.5% on Thursday.

Shares of banking/credit firm FinecoBank S.p.A. (IT:FBK) and retail company DocMorris N.V. (CH:DOCM) also saw an increase of 6.0% and 5.8% respectively.

MorphoSys AG (XE:MOR), a health care/life sciences company, and utilities business United Utilities Group PLC (UK:UU) rounded out the top five largest increases, with their stocks rising by 2.2% and 1.5%, respectively.

Currency and Commodity Performance

The pound (GBPUSD) experienced a slight increase of 0.18% against the dollar, while the euro (EURUSD) observed a 0.27% rise.

Brent crude (UK:BRN00) faced a decline of 1.06%, reaching $75.84.

Bond Market

The yield on the 10-year gilt (BX:TMBMKGB-10Y) rose by 16.01 basis points, reaching 4.659%. Similarly, the yield on the German 10-year bund (BX:TMBMKDE-10Y) increased by 14.680 basis points, totaling 2.63%.

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