European markets traded mostly lower on Thursday, as investor sentiment weakened following cautious remarks from Federal Reserve Chair Jerome Powell and a string of mixed earnings reports from major U.S. technology companies.
After a closely watched meeting between U.S. President Donald Trump and Chinese President Xi Jinping ended with few tangible breakthroughs, market focus shifted to the European Central Bank’s upcoming policy announcement later in the day.
The ECB is widely expected to keep interest rates unchanged for a third consecutive meeting, citing subdued inflation and steady, though modest, economic growth across the euro area.
Eurozone Economic Data
Fresh data from France offered a rare bright spot, showing that the eurozone’s second-largest economy grew faster than anticipated in the third quarter despite political uncertainty and global trade pressures.
According to national statistics agency INSEE, French GDP expanded 0.5% in Q3, following 0.3% growth in Q2, beating forecasts for a slowdown to 0.2%.
Market Overview
By midday, the CAC 40 in France had fallen 0.9%, the FTSE 100 in the U.K. was down 0.7%, and Germany’s DAX slipped 0.2%.
Corporate Movers
- Clariant (BIT:1CLN) advanced nearly 2% after the Swiss specialty chemicals firm reported a sharp improvement in Q3 profit margins.
- Electrolux (BIT:1ELUX) surged 18%, as the Swedish appliance maker returned to profit in the third quarter, reversing a loss from the same period last year.
- ING (EU:INGA) jumped 4.3% after posting better-than-expected Q3 earnings and announcing a €1.1 billion ($1.3 billion) share buyback.
- Stellantis (BIT:STLAM) dropped 4.2% after warning of one-time charges expected in the second half of the year.
- Volkswagen (BIT:1VOW3) added 1% despite reporting a €1.3 billion ($1.52 billion) operating loss for the quarter.
- Lufthansa (BIT:1LHA) climbed 5%, with Q3 operating earnings surpassing expectations.
- TotalEnergies (EU:TTE) slipped 1.2% after the French oil major posted a 2.4% decline in third-quarter earnings.
- Crédit Agricole (EU:ACA) lost 2.2% following a profit miss in its Q3 results.
- Peer Société Générale (EU:GLE) gained 1.6% after delivering a better-than-expected 11% increase in quarterly profit.
- Spain’s BBVA (NYSE:BBVA) dropped more than 2%, as Q3 profit declined 3.7% year over year.
- In London, Standard Chartered rose over 2% after raising its income and return guidance alongside stronger quarterly results.
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