Europe Stocks Selloff; German Business Confidence Falls | Bloomberg The Pulse 07/25/24

European stocks follow slides in Asia and the US as investors pulled back on the AI frenzy and earnings disappointed. Nestle, Stellantis and Kering reported earnings that all missed estimates. French stocks were on the verge of a 10% correction. Sanofi lifted its earnings forecast for the year after posting profit that topped estimates amid strong demand for blockbuster skin and asthma medicine Dupixent. Meanwhile, Roche raised its 2024 profit forecast as new drugs like Vabysmo for eye disease drove revenue for the latest quarter and first half of the year. We also spoke to Ifo institute President Clemens Fuest as German business outlook unexpectedly fell, adding to the pessimistic sentiment in the market.

Today’s guests: Nathalie Bellon-Szabo, Sodexo CEO; Clemens Fuest, IFO Institute President
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“The Pulse With Francine Lacqua” is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
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