European Shares Drift Lower With US Rate Outlook In Focus
(RTTNews) - European stocks traded lower on Thursday as sticky inflation and a slowing job market clouded the outlook for U.S. interest rates.
The downside, however, remained capped after a closely-watched survey showed German consumer confidence is set to halt its downward trend in October.
The forward-looking consumer confidence index rose to -22.3 in October from revised -23.5 in the previous month as income expectations strengthened.
The pan European Stoxx 600 dipped 0.3 percent to 552.21 after ending 0.2 percent lower on Wednesday.
The German DAX gave up 0.4 percent, France's CAC 40 shed half a percent and the U.K.'s FTSE 100 was down 0.2 percent.
Automakers were broadly higher, with BMW rising 1 percent and Renault rallying 2.4 percent after industry data showed European car registrations rose for a second month in August.
TotalEnergies fell about 1 percent in Paris after announcing that it plans to reduce the pace of its share buybacks for the rest of this year.
Defense contractor Babcock International declined 1.3 percent in London after keeping its full-year expectations unchanged.
Retailer JD Sports Fashion rallied 3.2 percent after launching a £100 million share buyback program.
Health and safety device maker Halma gained 1.3 percent after raising its full-year revenue growth forecast.
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