European Shares Mostly Higher Before BoE Rate Decision

(RTTNews) - European stocks were mostly higher on Thursday, with U.K. markets underperforming ahead of the Bank of England's interest-rate decision.

The central bank is widely expected to announce a quarter-point interest rate cut despite concerns about rising inflation.

In economic releases, Germany's exports grew for the first time in three months in June despite falling shipments to the U.S., data from Destatis revealed. Exports advanced 0.8 percent on a monthly basis in June, reversing a fall of 1.4 percent in May.

Separate set of data revealed that German industrial output decreased 1.9 percent on a monthly basis in June, bigger than May's revised 0.1 percent drop and also worse than economists' forecast of 0.4 percent fall.

Elsewhere, U.K. house prices increased by more-than-expected 0.4 percent in July from June, according to data from the mortgage lender Halifax.

The pan European STOXX 600 rose half a percent to 543.84 as higher U.S. tariffs on dozens of trading partners kicked in.

The German DAX gained more than 1 percent and France's CAC 40 surged 0.8 percent while the U.K.'s FTSE 100 was down 0.3 percent.

A.P. Moller-Maersk shares rallied over 3 percent. The Danish shipping group raised its financial outlook for 2025 after posting strong second-quarter results.

Germany's United Internet declined 1.7 percent after reporting a small rise in first-half profit.

Valneva, a specialty vaccine company, surged 6 percent after the FDA removed its recommended pause on the use of IXCHIQ.

Consumer goods and adhesives maker Henkel climbed 2.2 percent after lifting its FY25 margin forecast.

Defense firm Rheinmetall plunged 5.2 percent after reporting lower-than-expected second-quarter sales.

Technology giant Siemens rose 1.2 percent on posting better-than-expected revenue and order intake in its third quarter results.

Insurer Allianz soared 5.4 percent on posting better-than-expected Q2 earnings and affirming its FY operating profit outlook.

Deutsche Telekom lost 3 percent after reporting weaker second quarter results in its domestic market.

Telecoms group Swisscom advanced 1.5 percent on reporting higher half-year revenue.

British advertising giant WPP gave up 3.7 percent on weak first-half results, with operating profit plunging 48 percent.

Government services firm Serco jumped nearly 8 percent on posting strong half-year results and reaffirming its FY25 forecast.

Hikma slumped nearly 7 percent after the generic drug maker lowered its margin outlook for its injectables unit.