European markets fall as earnings season continues
Istanbul, July 29 (Hibya) - European markets fell on Monday, reversing earlier gains, as investors digest U.S. inflation data and look ahead to another busy week of earnings and central bank meetings.
The Stoxx 600 index was down 0.17 percent, with most sectors and major bourses across the region trading in the red. Healthcare stocks added 0.64 percent, while autos fell 1.36 percent.
Philips shares jumped as much as 15 percent on Monday after the company reported better-than-expected second-quarter earnings. In the meantime, Heineken shares fell over 9 percent after the brewing giant’s first half profit growth, which came in weaker than analysts had expected.
Investors are also looking ahead to the latest policy meetings from the Federal Reserve and the Bank of England for an indication on the path for interest rates.
Asia-Pacific markets climbed on Monday, with Japan’s Nikkei 225 leading gains in the region as the U.S. inflation print raised hopes for a rate cut. Meanwhile in the U.S., the S&P 500 rose Monday ahead of a continued slew of corporate earnings stateside.
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