The pan-European Stoxx 600 closed at about 0.12% lower on Monday, with healthcare stocks dropping by 1.3%, marking the biggest loss for this trading session. Mining stocks took a different turn, rising 2.7%.
Earnings season is still gaining momentum steam, as more firm release reports, including Michelin, Faurecia, Ryanair, and Philips. Analysts say the state of the market may be a reflection of investment decisions made based on earning figures.
Ryanair posted 273 million euros (US$322 million) in losses for Q2, warning of the possibility of closing the fiscal year “somewhere between a small loss and breakeven,” as restrictive measures brought on by the pandemic are expected to persist.
Investor decisions are being greatly influenced by the recent surge in COVID-19 cases, especially as the more stubborn and easily transmissible delta variant continues to spread across Europe, forcing some nations to reimpose lockdowns.
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