Doha: European stock indices experienced a downturn as the trading day concluded.

According to Qatar News Agency, the pan-European Stoxx 600 index saw a decline of 0.46 percent. Meanwhile, Germany’s DAX index fell by 1.1 percent, moving further away from its recent record high, indicating a broader trend of uncertainty in the European markets.

Among the companies affected, Sartorius Stedem Biotech emerged as one of the biggest losers on the European index. The French laboratory supplies manufacturer saw its shares fall by 8.1 percent following the announcement of its financial results for the first half of the year. The results did not meet market expectations, contributing to the decline in its stock value.

Swiss company Givaudan also faced a significant drop, with its shares decreasing by 5.4 percent. This was attributed to sales that fell short of expectations for the first half of the year, largely due to a 14 percent appreciation of the Swiss franc in 2023, impacting the company’s international sales figures.

On a more positive note, British company Compass Group saw its shares rise by 5.4 percent. This increase followed the announcement of its agreement to acquire European luxury food service company Fermat Group in a deal valued at EUR1.5 billion ($1.75 billion), including debt. This acquisition is expected to expand Compass Group’s presence in the European luxury food service market.