European Shares Slip Ahead Of ECB Meeting

RTTNews | 1029 일 전

(RTTNews) - European stocks traded mostly lower on Thursday, with tech stocks leading losses after Facebook parent Meta Platforms forecast a weak holiday quarter and significantly more costs next year.

The downside remained capped after survey results from the market research group GfK showed that German consumer confidence is set to improve in November.

The forward-looking consumer sentiment index rose to -41.9 in November, in line with expectations, from revised -42.8 in October.

The monetary policy announcement from the European Central Bank is due at 8.15 AM ET.

The central bank is widely expected to hike its benchmark rate by 75 basis points to combat rising inflation. ECB Chief Christine Lagarde holds a press conference at 8.45 AM ET.

The pan European STOXX 600 dropped 0.3 percent to 409.14 after gaining 0.7 percent on Wednesday.

The German DAX dipped 0.4 percent and France's CAC 40 shed half a percent while the U.K.'s FTSE 100 was up 0.2 percent.

Swiss bank Credit Suisse plummeted 15 percent after posting a hefty quarterly loss. Miner Anglo American tumbled 3.3 percent in London after reporting flat third-quarter production.

Energy-services company Hunting Plc added 1.5 percent after posting improved performance in the third quarter.

Energy giant Shell rallied 3.5 percent after profits more than doubled between July and September.

Lloyds Banking Group gave up 1.6 percent after profits at the bank dropped by 26 percent in the three months to September.

Franco-Italian chipmaker STMicroelectronics slumped 8.3 percent after saying it expects sales growth to slow in the last part of the year.

Casino Group shares jumped almost 19 percent. The French retailer said its third-quarter total consolidated net sales rose 5.4 percent on a same-store basis from a year earlier.

TotalEnergies gained 1 percent. The energy and petroleum company said its third-quarter earnings more than doubled to about $9.9 billion, boosted by higher LNG prices and sales.

Schneider Electric tumbled 4.2 percent despite the Group confirming its fiscal 2022 target for EBITA growth.

IT consulting firm Capgemini declined 3 percent despite posting a rise in its quarterly revenues.

German enterprise software firm Software AG fell 4.2 percent despite backing its FY22 view.

Airline Lufthansa added 2.4 percent after it forecast strong air travel demand in the months ahead.

CAC 40 Moderately Lower

French stocks are exhibiting weakness on Thursday in cautious trade, with investors awaiting speeches from central bank chiefs at the Jackson Hole Symposium, which gets underway later in the day. Investors are also digesting flash survey figures on regional manufacturing and services sector activity in the month of August.

RTTNews | 33 분 전

Eurozone Private Sector Expands At Fastest Pace In 15 Months

Eurozone private sector expanded at the fastest pace in 15 months in August on stronger growth in manufacturing output despite challenges posed by U.S. trade tariffs. The HCOB flash composite output index climbed more-than-expected to 51.1 in August from 50.9 in July, survey results from S&P Global revealed Thursday. The score was seen at 50.7.

RTTNews | 37 분 전