European Shares Subdued Ahead Of ECB Decision

(RTTNews) - European stocks nudged lower on Thursday after Federal Reserve Chair Jerome Powell cautioned investors not to expect another interest rate cut in December and mega-cap U.S. technology companies reported mixed earnings results.

After a high-stakes meeting between U.S. President Donald Trump and his counterpart Xi Jinping wrapped up with few positive surprises, focus has shifted to the ECB's interest-rate decision later in the day.

The European Central Bank is set to keep interest rates unchanged for a third meeting, citing low inflation and steady growth.

In economic releases, France's economic growth accelerated in the third quarter despite political uncertainty and trade tensions, official data revealed.

Gross domestic product registered a quarterly growth of 0.5 percent, following a 0.3 percent rise in the second quarter, the statistical office INSEE reported. The growth was expected to ease to 0.2 percent.

The pan European Stoxx 600 slipped 0.1 percent to 574.82 after finishing marginally lower in the previous session.

The German DAX rose 0.3 percent, while France's CAC 40 was marginally lower and the U.K.'s FTSE 100 dropped half a percent.

Swiss specialty chemicals firm Clariant rose nearly 2 percent after reporting a significant improvement in its Q3 profit margins.

Electrolux soared 18 percent. The Swedish home appliances maker reported a profit in its third quarter compared to prior year's loss.

ING surged 4.3 percent. After Q3 earnings beat expectations, the Dutch lender said it would launch a 1.1-billion-euro ($1.3 billion) share buyback.

Automaker Stellantis slumped 4.2 percent after warning of one-time charges in the second half of the year.

Germany's Volkswagen gained 1 percent despite reporting a 1.3-billion-euro ($1.52 billion) operating loss in the third quarter.

Airline Lufthansa soared 5 percent as Q3 operating earnings exceeded expectations.

French oil major TotalEnergies fell 1.2 percent after it reported a 2.4 percent drop in third-quarter earnings.

Lender Credit Agricole declined 2.2 percent after Q3 profit missed expectations.

Peer Societe Generale added 1.6 percent after reporting a better-than-expected 11 percent rise in third-quarter profit.

Spain's BBVA lost over 2 percent after Q3 profit fell 3.7 percent year-on-year.

Standard Chartered rose over 2 percent in London after reporting higher quarterly profit and lifting its income and return outlook.