European indices fall 1%, focus on earnings

European indices declined at the beginning of trading today, Thursday, July 25, amid disclosure of corporate business results, and with anticipation of economic data in America.

Today witnesses the disclosure of the business results of a number of companies, including Nestle, Unilever, Stellantis, and Renault.

In addition to the consumer confidence index data in Germany, America will reveal GDP data for the second quarter later today. In terms of trading, the STOXX600 index fell by about 1.1% to 506 points.

The German DAX also fell by 1.2%, recording 18,166 points, while the British FTSE fell by about 0.9%, recording 8,080 points, and the French CAC fell by 1.8%, to 7,384 points.

In terms of sectors on the European Stock Exchange, technology stocks fell by about 2.8%. While household goods shares rose by about 0.3%, amid a jump in Unilever shares by about 7%.

The decline in European indices comes after sharp losses on Wall Street. Major technology companies put pressure on the performance of US stocks after the disappointing results of Alphabet and Tesla. The Nasdaq Composite Index suffered its worst session in 20 months.