European stocks fall amid mixed financial results

European stocks fell on Wednesday as investors received a series of mixed financial results reports from the region, with losses increasing due to weakness in energy company stocks amid a decline in crude oil prices.

According to Reuters, the European Stoxx 600 index fell 0.1% by 0711 GMT.

The shares of the French luxury goods group Kering fell 4% after announcing a greater than expected decline in third-quarter sales.

Investors also received reports on the business results of giant technology companies in the United States

Alphabet shares, listed on the Frankfurt Stock Exchange, fell 6.5 percent after the owner of Google recorded lower-than-expected revenues, while Microsoft (NASDAQ:MSFT) shares rose three percent after quarterly sales exceeded expectations.

Among the stocks that also recorded gains was Deutsche Bank (ETR:DBKGn), which jumped five percent after third-quarter revenues exceeded expectations.

Sweden’s SEB Bank shares fell 2 percent despite third-quarter operating profits exceeding expectations.

Energy company shares fell 0.4% as crude oil prices fell amid fears of a slowdown in European demand.