FX.co ★ European Stocks Fall from Records

In the afternoon trading on Thursday, both the STOXX 50 and the STOXX 600 indices reversed earlier gains, dipping by 0.1% and 0.3%, respectively, after touching new record highs earlier in the day. The initial optimism spurred by the reopening of the US government diminished, compounded by a slew of disappointing corporate updates affecting market sentiment. Siemens' shares dropped over 5% following a lackluster profit forecast for the upcoming year. Novo Nordisk saw a decline of 0.8% amid news of its plans to issue a bond to fund its acquisition of Akero Therapeutics. The 3i Group experienced a sharp decline, falling over 18% after issuing a more cautious outlook. Similarly, Deutsche Telekom fell by 1% despite increasing its guidance for 2025 once more. Contrarily, Merck saw a substantial increase, climbing 5.3% after reporting operating earnings that surpassed market expectations. Meanwhile, Burberry trimmed earlier gains but still ended up 0.8%, marking its first sales increase in two years.