European Stocks Drop With Earnings Center Stage; L'Oreal Falls [Financial Post (Toronto, Ontario, Canada)]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — European stocks dropped for a third straight session as investors tracked a busy week of corporate earnings and the outlook for Federal Reserve interest-rate cuts. The Stoxx Europe 600 Index fell 0.3% by the close. The three-day decline marked its longest losing streak in over six weeks. L'Oreal SA slid after it posted disappointing sales last quarter as the beauty company suffers from worsening consumer demand in China. Autos and utilities outperformed, while miners were the biggest laggards. Among other earnings-driven moves, Deutsche Bank AG dropped as analysts noted higher-than-expected provisions. Heineken NV gained after the brewer reiterated its guidance, outweighing worse-than-expected beer volumes. Europe's benchmark index has struggled to break out of a range after recovering from the summer selloff. While bets on resilient economic gr
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