European shares slip on mixed earnings, energy stocks drag
(Reuters) — European shares slipped on Wednesday as investors digested a slew of mixed earnings reports from the region, while weakness in energy firms on lower crude prices added to the declines.
The pan-European STOXX 600 index was down 0.1% by 0711 GMT.
French luxury group Kering (EPA:PRTP) fell 4% after reporting a bigger-than-expected drop in third-quarter sales.
Investors also digested earnings reports from megacap tech firms in the United States.
Frankfurt-listed shares of Alphabet (NASDAQ:GOOGL) fell 6.5% after the Google owner's cloud revenue missed estimates, while Microsoft (NASDAQ:MSFT) rose 3% after quarterly sales beat estimates.
Among other banks reporting earnings, shares of Deutsche Bank rose 5% after the lender's third-quarter revenue beat expectations.
Swedish bank SEB fell 2% even after Q3 operating profit beat expectations.
Energy stocks slipped 0.4% as crude prices dipped on concerns about slowing European demand.
Read more on investing.com
