European equities are showing a mixed performance on Thursday, with London’s FTSE 100 trailing its continental peers following another interest rate cut by the Bank of England, as economic challenges persist both domestically and abroad.
The Bank’s Monetary Policy Committee voted narrowly, 5-4, to trim the benchmark rate by 25 basis points to 4.00%, marking the fifth cut in a year and bringing rates to their lowest level since early 2023.
On the economic front, Germany reported a surprise rebound in exports in June, rising 0.8% month-over-month despite weaker shipments to the United States. This follows a 1.4% decline in May, according to Destatis. However, German industrial production fell 1.9% in the same month—sharply worse than May’s 0.1% dip and missing economists’ expectations for a 0.4% drop.
In the UK, Halifax reported that house prices climbed 0.4% in July compared to June, exceeding forecasts.
Across the major indices, the FTSE 100 is down 0.8%, weighed by monetary policy developments, while the CAC 40 has gained 1.1%, and Germany’s DAX is up 1.6%.
Among notable movers:
A.P. Moller-Maersk (TG:DP4A) rose more than 3% after the Danish shipping giant upgraded its 2025 guidance following solid Q2 earnings.
United Internet (TG:UTDI) slipped 1.7% despite posting a modest profit increase in the first half.
Valneva (EU:VLA) jumped 6% as the U.S. FDA lifted its recommendation to pause the use of its IXCHIQ vaccine.
Henkel (TG:HEN3) advanced 2.2% after the consumer goods maker raised its full-year margin guidance.
Rheinmetall (TG:RHM) tumbled 5.2% following disappointing second-quarter revenue figures.
Siemens (TG:SIE) gained 1.2% after surpassing expectations for both revenue and new orders in Q3.
Allianz (TG:ALV) surged 5.4% thanks to stronger-than-expected second-quarter earnings and reaffirmed full-year profit targets.
Deutsche Telekom (TG:DTE) dropped 3% after reporting weaker performance in its domestic market during Q2.
Swisscom (TG:SWJ) moved 1.5% higher following a positive half-year revenue report.
In the UK, WPP (LSE:WPP) slid 3.7% after announcing a 48% plunge in operating profit for the first half.
Serco Group (LSE:SRP) rallied nearly 8% after strong mid-year earnings and confirmation of its FY25 outlook.
Hikma Pharmaceuticals (LSE:HIK) fell nearly 7% after the company revised down margin expectations for its injectables division.
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