European Stocks Turning In Mixed Performance In Cautious Trade

(RTTNews) - European stocks are turning in a mixed performance in cautious trade on Thursday with investors continuing to assess corporate earnings announcements and the developments on the trade front post announcement of U.S.-U.K. and U.S.-China trade agreements.

Investors, looking ahead to Federal Reserve Chair Jerome Powell's speech later in the day, are also reacting to the latest economic batch of economic data from region.

The pan European Stoxx 600 was up 1.10 points at 544.98 a little while ago. The U.K.'s FTSE 100 gained 27.19 points or 0.32% to 8,612.20. Germany's DAX climbed to 23,544.77, up 41.57 points or 0.18%, and France's CAC was down 4.28 points at 7,832.51 a few minutes ago.

In the German market, BMW is down more than 5.5%. Merck is down 5.2% after the company cut its full-year guidance. Siemens, Allianz, Adidas, Commerzbank, Infineon and Puma are lower by 1.2 to 2.2%.

Thyssenkrupp shares are tanking more than 11% as the company's operating profit plunged in the second quarter, hurt by economic uncertainty due to higher tariffs, notably in automotive and steel.

The company saw a 90% drop in quarterly adjusted EBIT to 19 million euros ($21 million), significantly lower than forecast.

Rheinmetall is climbing 4.5%. MTU Aero Engines, Bayer, Hannover Rueck, Fresenius Medical Care, Fresenius, Symrise, E.ON, Deutsche Bank and Siemens Energy are gaining 1 to 2%.

In Paris, Kering is declining 3.7% and LVMH is down 2.7%. ArcelorMittal, Saint-Gobain and Pernod Ricard are down 1.6 to 2%. TotalEnergies is lower by about 1%.

Engie is advancing 3.2% on strong results and earnings guidance. Thales is rising 2.3%, while Vinci, Orange, Danone and Unibail Rodamco are up 1 to 1.3%.

In the U.K. market, The Sage Group is down more than 4% on lower revenues. 3i, Admiral, Intercontinental Hotels Group, Shell, DCC, Tesco, Antofagasta, Endeavour Mining and Glencore also notably lower

Hikma Pharmaceuticals is climbing about 5.5%. JD Sports Fashion is gaining 4.7% and National Grid is up 3.5%.

Compass Group, Aviva, IAG, Vodafone Group, Fresnillo, Hiscox, Convatec Group, British Land Company, BAE Systems, Beazley, AstraZeneca, Smith & Nephew, Rolls-Royce Holdings, British American Tobacco and Centrica are up 1.2 to 3%.

Data from Eurostat showed Eurozone industrial output increased 2.6% on a monthly basis, following a monthly growth of 1.1% in February. Output was expected to climb 1.7%.

Year-on-year, industrial production logged an increase of 3.6% after rising 1% in February. This was also better than forecast of 2.5%. Industrial production increased 2.6% on a monthly basis,

A separate data from Eurostat showed the euro area economy grew at a slower than initially estimated pace in the first quarter, according to a flash estimate.

Gross domestic product expanded 0.3% on a quarterly basis, which was revised down from 0.4% estimated on April 30. This followed fourth quarter's 0.2% expansion.

On a yearly basis, economic growth remained unchanged at 1.2% in the first quarter and matched estimated.

Data from the statistical office INSEE showed France's consumer price inflation remained at 0.8% in the month of April, the same rate as seen in March and February. The figure also matched the estimate published on April 30.

On a monthly basis, consumer price inflation rose to 0.6% from 0.2%. The April rate was revised up from 0.5%.

Data from Destatis showed whole sale prices in Germany grew 0.8% year-on-year in April, following a 1.3% rise in March.

The overall inflation in April was due to higher prices for food products, non-ferrous ores and metals, and non-ferrous semi-finished metal products. On a monthly basis, wholesale prices dropped 0.1% in April versus an expected increase of 0.2%.

The UK economy grew more than expected in the first quarter driven by services and industrial production, the first estimate from the Office for National Statistics showed.

Gross domestic product expanded 0.7% sequentially, following a 0.1% growth in the previous quarter. GDP was forecast to advance 0.6%. Moreover, this was the fastest growth in a year.

On a yearly basis, real GDP expanded 1.3% in the first quarter compared to economists' forecast of 1.2%.