Europe's STOXX drops to 1-month low on geopolitical woes; L'Oreal shines [Reuters]
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Source: Reuters
investors across the globe, while shares of L'Oreal rose as the French cosmetic giant trounced estimates for quarterly sales. The continent-wide STOXX 600 (.STOXX) New Tab , opens new tab was down 0.6%, as of 0714 GMT, and has lost 1.6% so far this week. The benchmark index was on track for its biggest weekly drop since last October, if losses hold. Indexes across major European economies such as Germany (.GDAXI) New Tab , opens new tab , France (.FCHI) New Tab , opens new tab , Italy (.FTMIB) New Tab , opens new tab and Spain (.IBEX) New Tab , opens new tab dropped between 0.6% and 0.9%. Escalating tensions between Israel and Iran kept investors on edge on concerns that a spike in commodity prices could fuel inflation and push back a highly anticipated June interest rate cut by the European Central Bank. Offsetting the glum mood, shares in L'Oreal (OREP.PA) New Tab , opens new tab rose 5.1% after the beauty company posted a nearly 10% rise in first-quarter sales o
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