World Bank Cuts Global Growth Forecast; Lufthansa Leads European Stocks Lower

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World Bank Cuts Global Growth Forecast; Lufthansa Leads European Stocks Lower

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World Bank Cuts Global Growth Forecast; Lufthansa Leads European Stocks Lower

by TheStreet.com Videos 2:15 mins

World Bank Cuts Global Growth Forecast; Lufthansa Leads European Stocks Lower

by TheStreet.com Videos 2:15 mins

European stocks all declined Wednesday amid a raft of disappointing corporate news, and after the World Bank cuts its global growth forecast, while Asian stocks were mixed. German shares were led lower by Deutsche Lufthansa AG, after the country's flag carrier cut its operating forecast for 2014 and 2015, blaming a weaker than expected development in passenger as well as freight activities, as well as negative impacts from strikes and a devaluation in Venezuela's currency. In Paris, shares in Airbus Group NV fell after it announced that Dubai's Emirates airline cancelled its entire 2009 order of wide-body aircraft, due to be delivered in 2019. The order cancellation also weighed on Rolls-Royce Holdings plc in London. Bucking the bad-news trend among European corporates, shares in Spanish fashion retailer Inditex SA got a boost from a better-than-expected first-quarter profit.

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