(Reuters) – European stocks fell after a string of negative corporate results soured sentiment, already strained in the days leading up to key US economic data that shed light on the Federal Reserve’s monetary policy plans.
By around 11.00, it is down 0.51%.
Swedish property firm SBB slumps 4.46% after announcing it will delay dividend payments and no longer carry out its SEK 2.63 billion ($259.1 million) capital raise following the cut of the “junk” rating by Global .
Dutch fertilizer producer OCI NV was also among the worst performers, down 4.25% after posting lower-than-expected first-quarter EBITDA.
DIRECT LINE INSURANCE said today it expected earnings pressure in 2023, sending the stock tumbling 5.68%.
China-exposed luxury stocks such as HERMES INTERNATIONAL, PERNOD RICARD and KERING are down 0.6% to 1.65% after weak import and export data from Beijing and weigh on the French blue index -chip .
FRESENIUS MEDICAL CARE (ETR:) gained 1.24% after the German dialysis specialist reported a smaller-than-expected drop in first-quarter adjusted operating profit.
GRIFOLS jumped 6.63% as the Spanish pharmaceutical company lifted its 2023 margin outlook following robust first-quarter earnings and revenue growth.
(Translated by Chiara Bontacchio, editing by Gianluca Semeraro)