European shares steady as earnings season takes focus; Italy`s Campari slides

Published on 11/03/2025 at 03:28 am EST - Modified on 11/03/2025 at 03:31 am EST
(Reuters) - European stocks traded steady on Monday as a fresh wave of corporate earnings rolled in, including reports from LNG company GTT and Dutch firm PostNL, though shares of drinks maker Campari slid following a tax evasion probe.
The pan-European STOXX 600 index held its ground at 572.29 points, as of 0812 GMT, remaining close to the more-than-one-week low reached last week.
Shares of GTT advanced 4.3% after the French LNG containment system specialist raised its annual revenue and core earnings forecast. The broader oil and gas index led sectoral gains with a 1.1% jump.
The energy sector was also boosted by BP's 1.7% climb after the UK company announced plans to sell stakes in the Permian and Eagle Ford midstream assets of its U.S. onshore oil and gas business to funds managed by investment firm Sixth Street for $1.5 billion.
Campari slid 4% after Italian tax police said they had seized shares worth 1.29 billion euros ($1.5 billion) from a Luxembourg-based holding company that controls the Italian drinks group over alleged tax evasion.
Among others, PostNL dropped nearly 4% after the Dutch postal group reported a wider-than-expected quarterly operating loss, citing mounting pressure on its domestic mail operations as volumes dwindle and revenue becomes increasingly concentrated among a few major customers.
(Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips)

Sumber : Reuters