European Shares Slip Ahead Of Inflation And Unemployment Data

RTTNews | 868 dias atrás
European Shares Slip Ahead Of Inflation And Unemployment Data

(RTTNews) - European shares were a tad lower on Thursday and Euro zone government bond yields hit fresh multi-year highs, as investors awaited key Eurozone inflation and unemployment data due later in the day for directional cues.

ECB's Joachim Nagel said Wednesday that the central bank might need large interest-rate increases beyond March to combat high inflation.

Elsewhere, Bank of England Governor Andrew Bailey said in his speech at Brunswick Group's Cost of Living Conference in London that rates could rise further if inflationary pressures become embedded.

The pan European STOXX 600 was down 0.1 percent at 457.18 after declining 0.7 percent on Wednesday.

The German DAX, France's CAC 40 and the U.K.'s FTSE 100 were down between 0.3 percent and 0.4 percent.

Swiss specialty chemicals firm Clariant was down 3 percent after it forecast annual sales to slightly decline in 2023.

British lender HSBC fell 4.3 percent on going ex-dividend.

Flutter Entertainment shares tumbled 4 percent. The gambling and betting group reported FY22 core profit at the lower end of its guidance range.

Vesuvius, an engineering company, jumped nearly 6 percent after reporting a rise in earnings for 2022, amidst an increase in revenue.

Buildings giant CRH soared 11 percent after reporting a jump in 2022 profit and unveiling share buyback plans.

Public transport company National Express rallied 11 percent after reporting improved financial and operating performance for FY22.

Technip Energies shares rallied 6.2 percent in Paris. The engineering firm, focused on energy industry, posted a rise in earnings for 2022 on lower revenue.

Resource-management firm Veolia Environnement declined 1.3 percent despite reporting a rise in FY22 net income and revenue, helped by its merger with Suez.

Kion Group AG rose over 1 percent. The German manufacturer of materials handling equipment said it expects an increase in revenue and a significant improvement in both adjusted EBIT and return on capital employed in fiscal 2023.

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