European Stocks Slip as Mideast Conflict Weighs, Italy Lags [BNN Bloomberg (Canada)]
SAP SE ADS (SAP)
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Source: BNN Bloomberg
The Stoxx Europe 600 Index ended with a 0.9% decline at its lowest level in nearly two weeks, as investors waited to see if Israel's government will retaliate against Iran for its recent missile attack. Almost all European sectors were in the red, with automakers, construction and miners leading declines. As oil prices climbed for a third day, the energy subindex rose 0.3%. Italian stocks underperformed, with Milan's FTSE MIB benchmark dropping 1.5% after Finance Minister Giancarlo Giorgetti laid out plans to raise taxes on firms to help cut the country's budget deficit. Among individual stocks, Tesco Plc shares rose after the British supermarket operator hiked its profit outlook for this fiscal year. Shares in SAP SE fell after US prosecutors widened their probe of potential price-fixing by the German software maker. Chinese stimulus measures and expectations of further interest-rate cuts in the US propelled European equities to a record level last week, but they have since re
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