German stocks retreat from record high
Airbus rises amid string of new orders
MTU Aero Engines up on FY earnings outlook hike
June 19 Reuters European shares fell on Monday, with FrancoGerman lab equipment maker Sartorius leading the declines, while investors cautiously awaited further stimulus measures from China to revive demand.
The panEuropean STOXX 600 index shed 0.6, while Germany39;s DAX index dropped 0.6 after closing at a record high in the previous session.
Shares of Sartorius plunged 16.6, to the bottom of the STOXX 600, after the company cut its 2023 revenue and margin forecasts on Friday.
The focus remains on geopolitics as U.S. Secretary of State Antony Blinken will meet with Chinese President Xi Jinping on Monday in Beijing, while China39;s cabinet met on Friday to discuss measures to spur growth in the economy, state media reported.
This comes after the People39;s Bank of China PBOC lowered short and mediumterm policy rates last week.
There has been a lack of a more euphoric reaction in Chinarelated markets to the latest easing measures, strategists at Jefferies wrote in a client note.
Given such market action and the relatively disappointing data, the question is whether more aggressive stimulus is coming.
Chinaexposed luxury giant LVMH, which is Europe39;s most valuable firm, fell 1.3, while the basic resources index dropped 1.3 amid demand worries from the top metals consumer.
MTU Aero Engines rose 3.4 upon raising its earnings forecast…