European share markets traded cautiously on Thursday, with investors keeping a close eye on escalating developments between the United States and Venezuela, while also positioning ahead of key U.S. employment data that could influence expectations for Federal Reserve policy.
Sentiment was weighed down after the U.S. seized two oil tankers flying Russian flags and outlined intentions to exert long-term control over future Venezuelan oil sales.
Major indices were modestly weaker, with the UK’s FTSE 100 down 0.3%, Germany’s DAX lower by 0.2% and France’s CAC 40 slipping 0.1%.
In London, Tesco (LSE:TSCO) shares fell sharply despite the retailer guiding for full-year profit to land at the upper end of its previous range. Associated British Foods (LSE:ABF) also moved notably lower after issuing a more cautious profit outlook.
French catering group Sodexo (EU:SW) came under pressure as it reported a 1.5% decline in organic sales in North America during the first quarter.
By contrast, defence stocks across the region rallied strongly after U.S. President Donald Trump called for a significant increase in American defence spending.
Shares in Pharming Group (EU:PHARM) surged after the company forecast 2025 revenue ahead of previous guidance. UK retailer Marks and Spencer (LSE:MKS) also advanced, supported by solid food sales growth over the crucial Christmas trading period.
In Germany, wind turbine manufacturer Nordex (TG:NDX1) jumped after announcing new orders in Spain with a combined capacity of 245.8 megawatts.
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