European stocks fell on Tuesday (October 14th), with the Stoxx 50 and Stoxx 600 both down around 0.3%, as escalating US-China trade tensions weighed on sentiment. Risk-sensitive sectors such as automotive and mining led the decline after Beijing imposed sanctions on the US units of a South Korean shipping company and warned of further retaliation, raising concerns of new trade disruptions.
Defensive sectors, including telecommunications, real estate, and utilities, outperformed as investors sought safe havens. Among the stocks that moved, Michelin plunged 8.9% after the tire maker issued a profit warning, citing significantly weaker demand in North America.
Conversely, Ericsson surged 16% after the Swedish telecommunications group reported better-than-expected third-quarter results, driven by the sale of its call routing business, Iconectiv, which boosted profit and cash flow. In France, political uncertainty added to market caution after Prime Minister Lecornu announced he would suspend controversial pension reforms in an effort to maintain stability. (alg)
Source: Trading Economics
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