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European Shares Little Changed As Yields Tick Higher
(RTTNews) - European shares were little changed on Thursday as earnings proved to be a mixed bag and German government bond yields crept higher, echoing moves in U.S. Treasuries.
The dollar index remained on the back foot amid hopes that inflation in the United States may have peaked, which could allow the Fed to slow the pace of interest rate increases.
The pan European Stoxx 600 was marginally higher at 440.25 after gaining 0.9 percent in the previous session.
The German DAX and the U. K's FTSE 100 both dipped around 0.1 percent, while France's CAC 40 index was marginally higher.
Deutsche Telekom AG was marginally higher. The telecom major raised its fiscal 2022 earnings outlook again, despite reporting lower profit in its second quarter.
Dutch financial insurance company Aegon jumped nearly 9 percent after raising its forecasts for full-year operating capital generation and 2021-2023 free cashflow.
German industrial conglomerate Siemens declined 1.5 percent. The company posted its first quarterly loss in 12 years as a result of costs related to its Siemens Energy investment and decision to quit Russia.
Miner Antofagasta fell about 1 percent after reporting a 48 percent drop in interim earnings.
Zurich Insurance gained more than 2 percent. The Swiss insurer reported a 25 percent rise in first-half operating profit, driven by an underlying improvement across all businesses.
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