European equities traded lower on Thursday following strong gains in the prior session, when investor sentiment was boosted by optimism surrounding artificial intelligence and hopes for easing tensions in the Middle East conflict.
Losses were partially limited after fresh economic data showed German factory orders increased more strongly than expected in March.
German factory orders beat forecasts
According to data released by Destatis, factory orders in Germany climbed 5.0% in March following a revised 1.4% increase in February.
Manufacturers reportedly accelerated purchases of raw materials amid concerns over potential supply disruptions and future price increases.
The March reading came in well above the 1.0% forecast and marked the strongest monthly increase in three months. Excluding large-scale orders, new orders rose 5.1% compared with the previous month.
Major European indexes move lower
The U.K.’s FTSE 100 Index declined 0.6%, while Germany’s DAX Index slipped 0.1%.
France’s CAC 40 Index traded near flat territory.
Corporate movers across Europe
Shares of Coca-Cola HBC (LSE:CCH) dropped 3.3% after the beverage bottler posted first-quarter organic revenue growth that missed expectations.
Retailer JD Sports Fashion (LSE:JD.) advanced 5% after reporting full-year sales and profit figures that were broadly in line with market forecasts.
Shell (LSE:SHEL) fell 2% after the energy company reduced its quarterly share buyback program from $3.5 billion to $3 billion.
InterContinental Hotels (LSE:IHG) gained 2.8% following stronger first-quarter revenue results.
Defense and aerospace company BAE Systems (LSE:BAE) declined 3.4% despite reaffirming its 2026 sales and underlying earnings-per-share outlook.
German stocks mixed after earnings and deal updates
Henkel (TG:HEN3) jumped 4.3% after the consumer goods and adhesives manufacturer reported first-quarter sales growth that exceeded expectations.
Rheinmetall (TG:RHM) lost 2.8% after announcing it had submitted a non-binding bid to acquire German Naval Yards Kiel.
Medical technology group Siemens Healthineers (TG:SHL) fell 4.7% after lowering its full-year revenue growth guidance.
Global shipping and logistics company A.P. Møller – Mærsk (TG:DP4A) declined 4.3% as lower freight rates weighed on first-quarter profit.
French companies also under pressure
French utility Engie (EU:ENGI) dropped 2.2% after reporting weaker first-quarter earnings.
Meanwhile, conglomerate Bouygues (EU:EN) slipped 2% after stating it does not intend to sell assets to finance its joint €20.35 billion cash offer for telecom operator SFR.
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