European equity markets traded sharply lower on Tuesday as a combination of mixed corporate earnings, disappointing U.S. manufacturing data, and cautious remarks from Federal Reserve officials dampened investor confidence and reduced appetite for riskier assets.
By mid-morning, the FTSE 100 in London was down 0.4%, while France’s CAC 40 dropped 1.0% and Germany’s DAX slid 1.2%.
Among individual movers, Telefónica (BIT:1TEF) saw its shares sink after the Spanish telecom giant announced plans to halve its dividend for 2026 as part of a broader strategic overhaul aimed at reducing debt and boosting efficiency.
Fresenius Medical Care (BIT:1FME) also fell, despite reporting better-than-expected third-quarter results, as the German dialysis group reaffirmed its 2025 guidance, noting that cost-saving initiatives had supported profitability.
Shares of Edenred (EU:EDEN) tumbled after the French employee benefits provider cut its medium-term earnings growth targets, citing macroeconomic headwinds and slower client demand.
In Sweden, Skanska (BIT:1SKAB) edged lower following news that the construction company will invest about SEK 820 million in the fifth phase of its Nowy Rynek office development in Poznań, Poland.
On the upside, Geberit (BIT:1GEBN) gained after the Swiss plumbing materials manufacturer raised its 2025 sales outlook, reflecting improving market demand.
Philips (EU:PHIA) shares also advanced, with the Dutch medical technology group lifting the upper end of its full-year margin forecast after reporting third-quarter revenue in line with market expectations.
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