Key facts
- STOXX 600 index fell 0.84% to 639.05 points.
- Barclays' third-quarter profit before tax was £2.3 billion, missing estimates.
- Hermes' third-quarter revenue was weaker than expected.
- Nestle reported better-than-expected third-quarter organic sales growth.
- Oil prices climbed over 2% due to Houthi attacks.
The pan-European STOXX 600 index slipped 0.84% on Thursday, nearly erasing the previous session's gains as investors assessed a large number of corporate earnings reports and rising oil prices. Barclays fell 2.5% after its third-quarter profit before tax of £2.3 billion missed company-compiled estimates of £2.4 billion, while Hermes dropped 6.7% on weaker-than-expected third-quarter revenue. The banking index was the biggest laggard, falling 2.1%. Nestle bucked the trend, adding 2.3% after reporting better-than-expected organic sales growth for the third quarter. Oil prices climbed over 2% amid concerns of supply disruption following Houthi attacks in Saudi Arabia, adding to caution in energy-dependent European markets already grappling with high energy costs.