Major stock indices in Europe trading lower

The stock indices in Western Europe dropped, investors evaluate companies reporting and statistical data on retail sales in the UK.

UK retail sales unexpectedly fell in January, revealed data from the Office of National Statistics. Retail sales, including automotive fuel, decreased by 0.3 percent for the month in January, after falling 2.1 percent in December. Sales are expected to grow by 0.9 per cent. Excluding automotive fuel, retail sales fell by 0.2 percent, confounding expectations for an increase of 0.7 per cent. However, the decrease was slower than the 2.2 percent seen in December.

In annual terms, retail sales growth fell sharply to 1.5 percent from 4.1 percent a month earlier. Expected moderate slowdown in annual growth to 3.4 percent. Excluding automotive fuel, retail sales growth was 2.6 percent compared to 4.7 percent in December and expected growth of 3.9 percent.

The composite index of the largest companies in the region Stoxx Europe 600 fell by 0.51% to 368.23 points.

Allianz SE shares rise in price by 1.6%. Europe's biggest insurer increased its net profit in the fourth quarter by 23% and announced a new buyback program worth up to 3 billion euros.

AstraZeneca shares rose 1.6% after the company reported positive results from clinical trials of a drug for breast cancer.

The capitalization of the German drug manufacturer Stada Arzneimittel AG increased by 0.6%. The company announced that it received a third offer from an unnamed bidder, of nearly 4 billion euros.

Royal Vopak NV shares fell 8.6%. The world's largest operator of oil and chemical storage warned investors that it does not expect to increase profits in 2017.

At the moment:

FTSE 7265.78 -12.14 -0.17%

DAX 11707.18 -50.06 -0.43%

CAC 4856.12 -43.34 -0.88%