European shares decline at the end of Tuesday’s session, affected by the decline in Chinese shares | Market talk


European stock market fell Tuesday, July 27 after declines in Chinese stocks A warning from Reckitt Benckiser about profit margins ahead of results updates from major luxury goods retailers later in the day.

The pan-European Stoxx 600 index closed down 0.5% in the second consecutive session of losses.

It fueled concerns about China tightens regulation of the technology sector لقطاع Sales surge in global markets this week despite optimism about corporate earnings season in the US and Europe.

Shares of Dutch company Prosus, which owns a stake in Chinese technology giant Tencent, fell 7.2% to their lowest level since May 2020 after Chinese shares sank to multi-month lows.

Reckitt shares fell 8.4% on its worst day since February 2003, as the company joined other major consumer goods firms in warning that its margins are under pressure this year due to rising costs.

Most of the European sector indices fell, and technology shares led the losses with Logitech falling 9.9% after the clinical computer equipment manufacturer kept its full-year targets despite better than expected quarterly results.

Investors are awaiting earnings reports from US technology companies later today, as well as the US Federal Reserve’s decision on interest rates and economic prospects at the conclusion of its two-day meeting tomorrow, Wednesday.


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