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European shares slip with focus on Russia gas supplies, mixed earnings -Breaking

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© Reuters. FILE PHOTO : A graph showing the German share price index DAX can be seen at Frankfurt’s stock exchange on April 26th, 2022. REUTERS/Staff

(Reuters) – European shares fell in choppy trading on Wednesday, as the markets took stock mixed earnings updates. Meanwhile energy tensions grew after Gazprom, Russia’s energy giant (MCX) halted supplies of gas to Bulgaria and Poland.

Pan-European fell 0.4%, extending its sell-off for the fourth consecutive day. It hovered close to six-week lows.

Gazprom stopped gas supply to Poland and Bulgaria because they failed to pay in roubles for the gas. This was the Kremlin’s most severe response to West sanctions over Ukraine.

After a sell-off last week, miners saw gains extend for the second consecutive day. Defensive sectors like utilities and food and drink stocks suffered the most severe declines.

Deutsche Bank After warnings about the Russia-Ukraine conflict affecting full-year results, (ETR:), fell 5%. It posted an 17% higher-than-expected first-quarter profit.

Lloyds Banking Group LON: saw 1.2% growth in quarterly profits as Britain’s biggest mortgage lender managed to ignore the worsening living cost crisis.

Nordic telecom operator Telia grew 1.1% following better-than-expected quarter earnings. Freight forwarder DSV climbed 2.7% after increasing its 2022 outlook.

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