European Stocks Decline on Disappointing Results From ABB, ASML
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European stocks fell on Wednesday, weighed down by disappointing results from ASML Holding NV and Swiss industrial conglomerate ABB Ltd., and as traders assessed escalating tensions in the Middle East.
The Stoxx Europe 600 was down 1.1% at the close, its lowest level in over a week. Chip equipment firm ASML dropped after its order intake plunged in the third quarter, while ABB declined the most in over three years after posting worse-than-expected earnings. AstraZeneca Plc was the biggest drag on the index after its new cancer medicine developed with Daiichi Sankyo Co. appeared to fall short of investors’ expectations in partial results released early after a medical conference data leak.