European stocks closed slightly lower on Monday (September 22nd) after posting strong gains the previous week as markets continued to assess the global interest rate outlook and weighed lingering geopolitical risks.
The Eurozone STOXX 50 fell 0.3% to 5,445, and the pan-European STOXX 600 fell 0.1% to 554. Automakers led the decline after Porsche cut its profit outlook for the year and delayed the launch of an electric car due to weak demand, pushing its shares down 7.2%. Volkswagen, Porsche's main shareholder, fell 7.1%, while Stellantis fell more than 2%.
Meanwhile, BBVA underperformed in the technology sector, falling 2.7% and raising its bid to acquire Banco Sabadell by 10% to €17 billion. In turn, ASMLO jumped 2.2%. (alg)
Source: Trading Economics
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