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European stocks tumble as investors shrug off corporate results

European stocks slipped on Thursday as an inflow of fresh corporate data failed to boost sentiment after rising concerns over faster U.S interest rates increases dragged down Wall Street and Asia markets.

Photo: Reuters

The pan-European STOXX 600 index tumbled 0,8% to 378,09.

The British FTSE 100 dropped 1%, France's CAC 40 lost 0.5%, Germany's DAX sank 0.9%, the Spanish IBEX 35 inched down 0.1%, Italy's FTSE MIB dipped 0.5%. Shares of Barclays jumped 5.3%.

The group reported a £1.9bn loss for 2017, more than doubled its dividend to 6.5p for 2018 and signalled the possibility of share repurchase.

Shares in British American Tobacco declined 4.5% after the company reported disappointing annual results The growth rate of sales of cigarettes was below expectations.


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