European Stocks Fall as LVMH Sales Drop Adds to ASML Order Gloom
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European stocks ended lower after fluctuating on Wednesday afternoon, as investors weighed an unexpected drop in sales at luxury behemoth LVMH and the negative sentiment generated by a surprisingly tepid outlook from chip-equipment maker ASML Holding NV.
The Stoxx Europe 600 Index was down 0.2% at the close in London, off the lows from earlier in the session, as the continent’s earnings season gets into full swing. Travel, retail and telecoms stocks led gains, while consumer, personal goods and technology stocks were laggards.