Stoxx 600 Down 0.6%, Rheinmetall Leads Declines
The Stoxx Europe 600 Index fell 0.6% to 602.52 in the latest trading session, reversing course after a 1.9% gain in the previous session. The decline indicated profit-taking following the rally, with pressure spreading to most stocks in the region.
Rheinmetall AG shares were the biggest contributor to the index's decline, falling 8.0%, weighing on industrial sectors. Eurazeo SE recorded the deepest decline, plunging 11.6%, adding to the decline in the European board.
Broadly speaking, market pressure was broad: 430 of 600 stocks fell, while 157 rose. Sector-wise, 16 of 20 sectors were in the red, led by declines in industrial goods and services, indicating that risk-off sentiment was more dominant than selective rotation.
Source: Newsmaker.id