And closed European STOXX 600 index Down 0.3 percent, with stock exchanges in major markets declining Germany France and Italy.
The basic resources sector was the most affected, losing 1.4 percent, with the shares of the Swedish company Boliden falling 2.3 percent after its rating was lowered from “neutral” to “sell.”
Profits took center stage, with Deutsche Bank shares losing 2 percent after the bank raised its forecasts for non-performing loans against the backdrop of the weakness of the German economy, which cast a shadow over its return to achieving profits in the third quarter.
Deutsche Bank shares were among the biggest losers in the DAX index, and the European bank index fell 0.5 percent.
L’Oreal shares fell 2.5 percent to the bottom of the CAC 40 index after not meeting third-quarter sales estimates due to a decline in demand for beauty products in China and slow growth in the skin care division.
On the other hand, cars led the gains, with Stellantis shares rising three percent. Sweden-based Volvo Cars shares fell 5.9 percent to the bottom of the Stoxx index after lowering its full-year sales growth forecast.
The fear is that the slowdown in economic growth in the monetary union will be reflected in the performance of companies this quarter. The STOXX 600 index did not achieve significant progress from the levels it first recorded in mid-May of this year.
Data from the London Stock Exchange Group showed yesterday, Tuesday, that 35.3 percent of the companies whose shares were listed on the STOXX 600 index that announced third-quarter profits exceeded expectations, compared to the usual rate of around 54 percent.