European Stocks Close Higher

RTTNews | 939 days ago
European Stocks Close Higher

(RTTNews) - European stocks closed higher on Thursday, lifted by recent data showing an improvement in German business sentiment and a surge in eurozone manufacturing activity.

The pan European Stoxx 600 gained 0.42%. The U.K.'s FTSE 100 ended higher by 0.21%, Germany's DAX climbed 0.34% and France's CAC 40 closed stronger by 0.74%, while Switzerland's SMI tumbled 0.76%.

Among other markets in Europe, Czech Republic, Finland, Greece, Ireland, Netherlands, Poland, Portugal and Spain posted sharp to moderate gains.

Austria, Belgium and Norway edged up marginally.

Iceland, Russia, Sweden and Turikiye closed weak. Denmark ended flat.

In the UK market, 3I Group soared more than 9%. Ashtead Group climbed 4.3% and Hargreaves Lansdown surged 3.5%.

Lloyds Banking Group, Kingfisher, Prudential, ABRDN, Beazley, Standard Chartered, JD Sports Fashion, Halma, Admiral Group and BP gained 2 to 3.1%.

Diageo drifted down 5.52%. Convatec Group, Ocado Group, Glencore, AstraZeneca and British American Tobacco lost 1 to 2.25%.

In the German market, Sartorius gained nearly 6% after posting upbeat financial results, and Infineon Technologies surged about 4.2%. Fresenius Medical Care, HeidelbergCement, MTU Aero Engines, Deutsche Bank, Brenntag, Continental, Zalando and Merck advanced 1 to 2%.

Fresenius and Puma both ended lower by about 2.5%. SAP ended nearly 1% down after it reported a steep drop in profits.

RWE, Vonvoia, Daimler, Henkel and Covestro also ended notably lower.

In Paris, STMicroElectronics rallied more than 7.5%. Vivendi, Kering, Alstom, Hermes International, Societe Generale, Eurofins Scientific, ArcelorMittal, WorldLine, Credit Agricole, Teleperformance, Safran, Renault, Thales, BNP Paribas and Publicis Groupe gained 1.4 to 3.2%.

Pernod Ricard ended lower by 3.1%. Essilor shed about 1.7% and Danone declined 1.1%.

Car production in the United Kingdom declined sharply in the year 2022, as global chip shortages and structural changes hampered output along with weaker exports, while electric vehicle production hit a record high, data from the Society of Motor Manufacturers and Traders, or SMMT, showed.

UK retail sales volumes dropped at a faster-than-expected pace at the start of the year, and retailers expect them to decline again next month, but at a slightly slower rate, survey data from the Confederation of British Industry, or CBI, showed.

The sales balance decreased to -23 from +11 in December, results of the Distributive Trades Survey of the CBI showed. Economists had expected a balance of -5.

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