European Markets Drop as Commodities Decline, Earnings Mixed

European equities retreat as market sentiment was weighed down by declines in commodity stocks while earnings reports were mixed.

The pan-European STOXX 600 fell 0.49 percent provisionally. It was the index's seventh consecutive session of declines, its longest losing streak since October 2016 when markets fell in the run-up to the U.S. presidential election.

The U.K.'s FTSE 100 dropped 0.56 percent, while France's CAC 40 lost 0.27 percent and Germany's DAX slid 0.44 percent.

Autos were among the biggest losers, slipping 0.9 percent, but declines were spread across sectors as investors continued to take profits following this year's rally.

Basic resources was also one of the worst performers, as lower-than-expected retail sales and industrial production figures recently seen and a drop in metal prices weighed on trade. Copper producer Aurubis lost four percent.

Oil and gas tumbled 1.49 percent due to lower oil prices. Crude oil's price decline added pressure on mining and energy stocks like Rio Tinto and Royal Dutch Shell.

Among oil companies Tullow Oil led declines, dropping 5.2 percent while services firm TechnipFMC and Austrian refiner OMV also fell 3.2 to 4.3 percent.

German rubber maker Lanxess dropped more than three percent after posting its third quarter net profit which turned out to be lower than the previous year. Potash miner K+S plunged more than five percent, after its operating profit and third quarter revenue missed market expectations.

Bucking the trend was Airbus rising 2.35 percent after receiving a 430 airplane order from Indigo Partners. Shares of Cobham also climbed more than 3.5 percent before trimming gains to end 2.36 percent higher, after it issued a trading statement saying its performance for this year remained "unchanged".

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