European stock markets experienced their largest monthly decline in a year, driven by disappointing earnings reports from major companies such as BNP Paribas and TotalEnergies. Concerns over government budget plans also led to a sharp drop in bonds.
The Stoxx Europe 600 Index closed down 1.2%, marking its third consecutive day of declines. Retail and technology stocks were the hardest hit, with all sectors recording losses.
BNP Paribas was one of the major stocks dragging the benchmark index down. In contrast, Société Générale reported better-than-expected earnings, causing its shares to surge by 11%.
The UK's FTSE 250 Index fell by 1.5% as the bond market continued its decline. This was triggered by concerns about future large-scale borrowing and fiscal stimulus plans from the Labour government.
