European stocks fall after strong week by Reuters

2023-11-06 18:40:00

© Archyde.com. An electronic screen displays data for the German DAX index at the Frankfurt Stock Exchange on Monday. Photography: Archyde.com.

(Archyde.com) – European stocks fell on Monday following the index recorded the largest weekly jump since March, with real estate stocks falling, while Ryanair shares rose following expectations that the company would achieve record annual profits.

The European STOXX 600 index fell 0.2 percent at the close following jumping more than three percent last week as investor sentiment rose following the release of a set of data on companies achieving large profits and signs that major central banks were stopping monetary tightening.

Shares of real estate companies fell 2.9 percent following being the best performers on the index last week.

Meanwhile, Ryanair shares jumped 5.3 percent following Europe’s largest airline by number of passengers expected record annual profits and pledged to distribute dividends on a regular basis, which led to travel and leisure sector stocks on the index rising 0.6 percent.

Telecom Italia shares fell 3.4 percent following jumping by regarding 5.4 percent.

Investors are also awaiting Fitch’s review of Italy’s credit rating on Friday.

( = 0.9311 euro)

(Prepared by Noha Zakaria for the Arabic Bulletin – Edited by Rehab Alaa)

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