European Shares Extend Losses On Economic Worries
European stocks fell near one-week lows due to reduced Fed rate-cut bets and U.S. economic uncertainty. Investors await U.S. jobs data and Nvidia earnings. The Stoxx 600 dropped over 1%, with major indices like DAX, CAC 40, and FTSE 100 also down. Novo Nordisk, ABB, Zurich Insurance, and Credit Agricole saw declines, while Roche Holding and Imperial Brands rose.
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European stocks hovered near one-week lows on Tuesday amid dwindling Fed rate-cut bets and uncertainty over the U.S. economic outlook.
As financial risks mount, investors await cues from the delayed September U.S. jobs data and earnings from Nvidia for direction.
The pan European Stoxx 600 was down a little over 1 percent at 565.82 after falling half a percent on Monday.
The German DAX fell 1.1 percent, France's CAC 40 gave up 1.2 percent and the U.K.'s FTSE 100 was down 0.9 percent.
Danish pharmaceutical company Novo Nordisk fell about 1 percent after an announcement that it would lower the U.S. price of its injectable Wegovy obesity drug.
Swiss engineering group ABB slumped 4 percent despite lifting its profitability targets.
Roche Holding surged 6.7 percent as it reported positive Phase III results from the lidERA trial of investigational oral SERD giredestrant in ER-positive, HER2-negative early-stage breast cancer.
Zurich Insurance declined 2 percent on saying it was on track to deliver its 2025-2027 targets.
French lender Credit Agricole fell 2 percent after announcing its new medium-term plan, ACT 2028.
British tobacco company Imperial Brands rallied 2.4 percent after reporting a nearly 5 percent rise in annual adjusted operating profit.
Bodycote, a provider of specialist thermal processing services, dropped 1.2 percent after announcing a new divisional reporting structure.
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