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European stocks down
European stocks declined amid falling share price L'Oreal (OR) SA and Bouygues SA, which was due to publish a report on the profits. U.S. index futures little changed, while Asian shares rose.
L'Oreal dropped to eleven-month low after the largest cosmetics manufacturer in the world reported that the rate of return was below analysts' expectations. The cost of the French company Bouygues fell by 7.3% after a weak report on the profits in the phone business. Shares of Banca Monte dei Paschi di Siena SpA fell 7.4 percent after the publication of the report, which showed losses.
Stoxx Europe 600 Index (SXXP) fell 0.4 percent to 266.14.
Market participants are waiting for Federal Reserve Chairman Bernanke's speech central bank symposium in Jackson Hole, to be held on August 31. His performance in 2010 was preceded by a second round of bond purchases, or quantitative easing, to support the economic recovery.
We also learned that yesterday, Draghi canceled his trip to Jackson Hole yesterday.
German Chancellor Angela Merkel in Berlin today to meet with Italian Prime Minister Mario Monti.
To date:
FTSE 100 5,745.88 -29.83 -0.52%
CAC 40 3,410.2 -21.35 -0.62%
DAX 6,956.03 -46.65 -0.67%
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