(MENAFN– ecpulse)
European shares tumbled on Thursday amid escalating tensions from Ukraine and downbeat corporate earnings.
Lawmakers in Crimea may vote on the status of the peninsula, according to the Centre of Journalist Research, following yesterday’s surprise military exercises by Russian troops near border with Ukraine.
On the other hand, Royal Bank of Scotland (RBS) led the decline after it posted its biggest full-year loss since receiving a bailout in 2008.
Regarding fundamentals, the better-than-forecast euro area economic confidence data failed to stop the losses.
A report released on Thursday showed that euro area economic confidence rose to 101.2 in February, the highest since July 2011, from a revised of 101.0, coming above median estimate of 100.7.
As of 06:52 EST, STOXX EUROPE 600 slipped 0.88% to record 334.74 points. Telecommunications led the decline with a drop of 1.24%, where the largest losses were recorded by Royal Bank of Scotland as its shares plummeted 9.10% to 321.80 GBP.
The largest gains, on the other hand, were led by Man Group PLC as its equities rose 11.83% to 94.05 GBP.
Regarding other major European indices, Germany`s DAX 30 slipped 1.60% to 9506.94 points. France’s CAC 40 index slumped 0.77% to 4363.11 points, and FTSE 100 fell 0.72% to 6750.46 points.
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