STOXX 600 Falls on Earnings Drag, Travel and Leisure Worst Hit

October 29, 2024

By Ankika Biswas and Pranav Kashyap (Reuters) -Europe's main stock index dropped on Tuesday, bruised by a handful of bleak quarterly results from industry majors such as energy giant BP, drugmaker Novartis and lender Santander, while caution also prevailed ahead of some crucial economic data. The pan-European STOXX 600 closed 0.6% lower, after touching an over one-week high intraday. BP's shares dropped 5% to July 2022 lows after the company's third-quarter profit fell to the lowest in almost four years, pushing the energy sector index 1.2% down. Novartis stock fell 4% as investors focused on the Swiss company's lower-than-expecte...