European stocks decline ahead of Ukraine-Russia peace talks

European stocks declined on Thursday after a surge yesterday on short-covering from 13-month lows, as sentiment improved back then on the prospects of Ukraine-Russia peace talks in Turkey.

Dow Jones Stoxx Europe 600 fell 1.3%, after surging 4.7% yesterday, the first profit in five days away from February 2021 lows.

It was the best profit for Europe's main index since March 2020 on improving risk appetite.

However the trend returned south once again, with most sectors firmly in the red, led by the automotive industry, which fell 3.75%.

Officials from Russia and Ukraine are currently holding crucial talks in Turkey to discuss peace and ceasefire, the first such talks since the war began two weeks ago.

The euro stoxx 50 fell 2.5%, while France's CAC 40 declined 2.6%, as Germany's DAX shed 2.9%, while London's Financial Times fell 1.2%.

S&P 500 futures fell 1% today, after closing up 2.6% yesterday, the first profit in five sessions.