European stocks close significantly lower after a cautious session

(RTTNews) – European stocks closed broadly lower on Tuesday as investors remained largely cautious and refrained from making significant moves ahead of Wednesday’s U.S. inflation data, which should provide clues on the pace of action. policy tightening by the Federal Reserve.

Investors continued to react to earnings updates and other corporate announcements, in addition to monitoring developments on the geopolitical front.

The Russian bombing of a Ukrainian power plant has raised fears of radioactive fallout in Europe.

Elsewhere, Taiwan’s foreign minister said earlier today that China had used drills from its military manual to prepare for the invasion of Taiwan.

The pan-European Stoxx 600 index slipped 0.67%. Germany’s DAX fell 1.12%, France’s CAC 40 ended down 0.53% and Britain’s FTSE 100 edged up 0.08%. The Swiss SMI lost 0.3%.

Among other European markets, Austria, Finland, Greece, Ireland, the Netherlands, Poland, Sweden and Turkey ended lower.

Belgium, Czech Republic, Denmark, Iceland, Norway, Portugal, Russia and Spain closed higher.

In the UK market, ABRDN fell almost 7%. JD Sports Fashion and Scottish Mortgage lost 5.2% and 4.6% respectively. Entain, ICP, Berkeley Holdings, RightMove, Flutter Entertainment, Ocado Group, Auto Trader Group, Aveva, Rolls-Royce Holdings, IAG, Croda International, RS Group and Persimmon fell 2-4%.

Imperial Brands, Pearson, National Grid, BP, HSBC Holdings, Airtel Africa, Centrica, British American Tobacco, AstraZeneca, BT Group and Shell gained 1-2%.

In Paris, Faurecia and STMicroElectronics lost more than 5% each. Atos, Michelin, Air France-KLM and Valeo lost 2.8 to 4.1%.

Saint Gobain, Renault, Sanofi, Teleperformance, Dassault Systèmes, Essilor, Hermès International and LVMH lost 1 to 2%.

Bouygues, Orange and Thales gain 1 to 1.5%.

In the German market, HelloFresh, Continental and Zalando lost more than 6%. Infineon Technologies, Puma, Sartorius and Adidas lost 3.2 to 4.4%.

Siemens, Deutsche Post, Covestro, Qiagen, Vonovia, Porsche Automobil, Volkswagen, Bayer, Symrise, Siemens Healthineers and BASF also fell sharply.

Munich RE gained almost 2%. Deutsche Telekom, E.ON, RWE, Allianz and Fresenius also closed higher.

In Switzerland, shares of duty-free retailer Dufry rallied strongly after the company reported strong first-half results.

In economic news, UK retail sales unexpectedly rebounded in July as warm weather boosted demand for summer clothing and electric fans, according to data compiled by the British Retail Consortium and the consulting services firm KPMG.

On a like-for-like basis, sales rose 1.6% year-on-year in July, contrary to the expected decline of 1.5%. Sales fell 1.3% in June. Overall sales rose 2.3% in July from a year ago.

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