Europe Markets: European stocks fall as Ukraine-Russia tensions weigh

By Carla Mozee, MarketWatch

LONDON (MarketWatch) — European stocks fell Monday, facing a third day of losses as geopolitical tensions between Russia and Ukraine weighed on sentiment, but a change in leadership at Tesco PLC lifted shares of the British grocer.

The Stoxx Europe 600 index /quotes/zigman/2380150/delayed XX:SXXP -0.53%  fell 0.3% to 338.81. Investors appeared cautious as leaders in Europe called for sharper sanctions against Russia, saying Moscow hasn’t done enough to resolve its conflict with Kiev.

Russian stocks slumped for a sixth day on the tensions, with the MICEX Index  droppung 1.3%.


Reuters

Pro-Russian protesters gather at a barricade near the police headquarters in Slovyansk on April 13.

Russia has also been under criticism for its role in handling an investigation into the downing of a Malaysia Airlines plane last week, which killed nearly 300 passengers and crew members.

In other trading action, shares of Banco Espírito Santo /quotes/zigman/176527/delayed PT:BES -2.14%  fell 1.7% in the wake of Friday’s filing for creditor protection by its parent company, Portuguese conglomerate Espírito Santo International SA.

But shares of Tesco PLC /quotes/zigman/156634/delayed UK:TSCO +1.79%  outperformed the broader market, rising 3.1% after the U.K. grocer named a new chief executive officer, as it warned of difficult trading conditions. Dave Lewis will join Tesco on Oct. 1, succeeding Philip Clarke, who will exit the board, but continue to support the transition until January 2015. Shares of rival grocer Wm Morrison Supermarkets PLC /quotes/zigman/155311/delayed UK:MRW -2.04%  fell 2%.

Tesco said current trading conditions are “more challenging than we anticipated” in its first-quarter interim statement released June 4. Lewis currently serves as president of Unilever PLC’s /quotes/zigman/409909/delayed UK:ULVR -0.27% personal care unit. Unilever shares were off 0.1%.

Among national markets, the U.K.’s FTSE 100 index /quotes/zigman/3173262/delayed UK:UKX -0.35%  fell 0.4% to 6,724, and France’s CAC 40 index /quotes/zigman/3173214/delayed FR:PX1 -0.60%  lost 0.6% to 4,309.56. Germany’s DAX 30 index /quotes/zigman/2380246/delayed DX:DAX -0.99%  fell 0.9% to 9,633.

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/quotes/zigman/2380150/delayed

XX : STOXX

337.85

-1.81 -0.53%

Volume: 0.00

July 21, 2014 10:32a

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/quotes/zigman/176527/delayed

PT : Portugal: Lisbon

0.41

-0.0090 -2.14%

Volume: 12.19M

July 21, 2014 9:32a

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

€2.36 billion

Rev. per Employee

€478,927

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/quotes/zigman/156634/delayed

UK : U.K.: London

290.10 p

+5.10 +1.79%

Volume: 15.70M

July 21, 2014 9:32a

P/E Ratio

0.24

Dividend Yield

6.98%

Market Cap

£23.15 billion

Rev. per Employee

£124,513

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/quotes/zigman/155311/delayed

UK : U.K.: London

174.37 p

-3.63 -2.04%

Volume: 2.91M

July 21, 2014 9:32a

P/E Ratio

N/A

Dividend Yield

10.51%

Market Cap

£4.16 billion

Rev. per Employee

£138,772

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/quotes/zigman/409909/delayed

UK : U.K.: London

2,625.00 p

-7.00 -0.27%

Volume: 336,025

July 21, 2014 9:32a

P/E Ratio

0.19

Dividend Yield

N/A

Market Cap

£33.78 billion

Rev. per Employee

£243,076

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/quotes/zigman/3173262/delayed

UK : FTSE Indices

6,725.92

-23.53 -0.35%

Volume: 0.00

July 21, 2014 9:32a

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/quotes/zigman/3173214/delayed

FR : N Euxt CMI

4,309.09

-26.22 -0.60%

Volume: 0.00

July 21, 2014 10:32a

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/quotes/zigman/2380246/delayed

DX : XETRA-ETF

9,623.37

-96.65 -0.99%

Volume: 0.00

July 21, 2014 10:32a

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Carla Mozee is a reporter for MarketWatch, based in London. Follow her on Twitter @MWMozee.

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