European stocks fall amid concerns about profits and rising Covid in China

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(Bloomberg) – European stocks fell on Monday as investors braced for a earnings season amid considerations of more covid restrictions in China as cases rose again.

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The Stoxx Europe Sixhunds index fell 0. 5% at the close of London, beating a previous drop of 1. 5%. Public services performed better.

Investors are bracing for second-quarter earnings season as considerations mount that runaway inflation is hurting spending and margins. Tech giants come to the markets.

“Earnings expectations are going to fall this year and also next year, which is a bit expensive,” Julien Lafargue, lead market strategist at Barclays Private Bank, told Bloomberg Television. see. “

Meanwhile, on Monday, luxury stocks, LVMH SE, which owns Louis Vuitton, weakened as the Covid outbreak in China raised concerns about demand.

Uniper SE fell 20% to an all-time high, extending a recent slump, after Germany may make a resolution on a bailout for the app “soon,” but ongoing talks with the company are “difficult. “

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