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European stocks fell on Tuesday as the sanctions on Russia’s central bank and sovereign wealth funds threatened further disruption to already stretched supply chains. <\/p>\n
In economic releases, Eurozone PMI Manufacturing was finalized at 58.2 in February, down slightly from January’s 58.7. <\/p>\n
Elsewhere in the U.K., the IHS Markit\/CIPS manufacturing Purchasing Managers’ Index (PMI) recorded an output reading of 56.9 in February, up from 54.5 in January.<\/p>\n
The pan European Stoxx 600 fell 1.3 percent to 447.25 as peace talks failed to ease ceasefire and shelling continued into a sixth day in Ukraine.<\/p>\n
The German DAX lost 2.1 percent, France’s CAC 40 index gave up 2.1 percent and the U.K.’s FTSE 100 was down 0.6 percent. <\/p>\n
Swiss Life gained 1 percent after reporting a 20 percent rise in FY net profit.<\/p>\n
Austria’s Raiffeisen Bank International declined 4.6 percent to extend losses from the previous session. <\/p>\n
Banks extended recent losses, with Commerzbank, Deutsche Bank and Credit Agricole all falling around 4 percent. <\/p>\n
Flutter Entertainment shares plunged 13 percent in London. The gambling and betting group booked a pretax loss for 2021 after incurring a 543 million pounds ($728.4 million) charge for noncash amortization from acquired intangibles.<\/p>\n
Energy major Shell fell 1.2 percent after saying it would exit all its Russian operations.<\/p>\n
Miner EVRAZ, which has a large exposure to Russia, tumbled 3.7 percent.<\/p>\n
German chemicals maker Covestro surged 2.6 percent after saying it had more than doubles its full-year core profit.<\/p>\n
Sportswear brand Adidas shed 1.2 percent after announcing that it has formally completed the sale of its arm Reebok, to Authentic Brands Group, an American apparel, athletics, and entertainment<\/span> brands owner.<\/p>\n Zalando, Europe’s biggest online fashion retailer, plunged 7.4 percent. The company forecast sales growth to decelerate this year. <\/p>\n<\/p>\n<\/div>\n