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European stocks sink on weak corporate earnings

European stocks fell on Thursday as a batch of weak earnings results from French retailer Carrefour and advertiser WPP kept the sentiment gloomy, while broader worries over tightening monetary policy spread over into March.

Photo: Reuters

The Stoxx Europe 600 index dropped 0.9% to 376.13.

Germany’s DAX 30 lost 1.4% to 12,261.73, and France’s CAC 40 dipped 1% to 5,265.44.

The UK’s FTSE 100 dived 0.5% to 7,194.88, and Italy’s FTSE MIB was down 0.9% at 22,409.63.

Shares in Carrefour dropped 6 percent after the group posted weaker operating profit for a second straight year.

Shares of advertiser WPP tumbled 11.7 percent after the company reported its worst performance since the financial crisis.

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