European stocks fell, with Julius Baer down

European stocks fell today, Tuesday, affected by the fall in shares of Swiss wealth manager Julius Baer after weak results, while investors await data on business activity in the euro zone for clues about the path of interest rates.

According to “Reuters”, the European Stoxx 600 index fell 0.3 percent by 0715 GMT, and the travel and entertainment sector and financial services companies led the losses.

Julius Baer shares plunged 7.6 percent after the Swiss bank reported a modest rise in assets under management and money flows in the first four months of the year, in what it described as a difficult period for wealth managers.

In Britain, BT Group shares rose 0.4 percent, with billionaire Patrick Drachhi increasing his stake in the telecom group to 24.5 percent, but he confirmed that he did not intend to make a complete takeover.

French media group Vivendi fell 6.1 percent to the bottom of the main Paris index CAC 40.