European STOXX 600 falls 0.84% as earnings and higher oil prices weigh

  • STOXX 600 fell 0.84% as investors assessed earnings and political uncertainty in France.
  • Barclays reported £2.3 billion in third-quarter profit before tax, below £2.4 billion estimates.
  • Oil prices climbed more than 2% after Houthi attacks in Saudi Arabia raised supply concerns.

The pan-European STOXX 600 fell 0.84% to 639.05 points by 0712 GMT on Thursday, nearly reversing a gain of more than 0.9% in the previous session. Investors assessed a heavy earnings slate amid political uncertainty and protests in France. Barclays dropped 2.5% after reporting third-quarter profit before tax of £2.3 billion, below company-compiled estimates of £2.4 billion, sending the banking index down 2.1%. Hermes fell 6.7% after third-quarter revenue came in slightly below analyst expectations, while Nestle gained 2.3% on stronger-than-expected organic sales growth. Oil prices rose more than 2% after Houthi attacks in Saudi Arabia increased concerns about regional escalation and supply disruptions, adding to pressure from elevated energy costs in Europe.

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