Economics
European Stocks Decline as Earnings’ Misses Offset U.S. GDP Data
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European stocks fell as worse-than-forecast earnings from companies including Schneider Electric SE and Holcim Ltd. outweighed a better-than-expected U.S. growth report, while the U.S. joined Europe in imposing new sanctions on Russia for its role in the insurgency in Ukraine.
Schneider declined the most in more than two years after first-half adjusted earnings missed analysts’ estimates. Holcim Ltd. lost the most since November 2011 after the cement maker posted lower-than-expected profit because of weak emerging-market currencies. Barclays Plc advanced 4.2 percent after posting a return to profit for the second quarter. PSA Peugeot Citroen rallied the most in five months after reporting its first half-yearly profit since 2011.