European equities traded mostly higher on Thursday as investors monitored the start of U.S.-China negotiations and reacted to stronger-than-expected economic growth data from the United Kingdom. Official figures showed the UK economy expanded at a quicker pace during the first quarter, supported by growth across all major sectors.
UK gross domestic product rose 0.6% quarter-on-quarter after increasing 0.2% in the previous quarter. March GDP alone climbed 0.3%, beating economists’ expectations for a 0.1% contraction. For full-year 2025, the UK economy grew 1.4%, compared with growth of 1.0% in 2024.
Germany’s DAX gained 1.3%, France’s CAC 40 advanced 0.8%, while the UK’s FTSE 100 moved 0.4% higher.
Technology shares strengthened after U.S. networking giant Cisco (NASDAQ:CSCO) reported quarterly revenue and profit above market expectations.
Future plc (LSE:FUTR) rallied after the specialist media group reported strong first-half cash generation and reiterated its full-year outlook.
Premier Foods (LSE:PFD), owner of the Mr Kipling brand, also climbed after beating annual profit forecasts and increasing its dividend payout.
Land Securities Group (LSE:LAND) posted strong gains after the real estate group projected additional rental growth following full-year earnings that matched consensus expectations.
Utility company National Grid (LSE:NG.) also moved higher after reporting improved annual earnings.
Spanish telecom operator Telefonica (BIT:1TEF) surged after reducing its first-quarter losses and reaffirming its guidance for the full year.
Meanwhile, shares in Burberry Group (LSE:BRBY) fell sharply after the luxury fashion house reported a 2% decline in full-year reported revenue, despite a notable recovery in profitability.
Leave a Reply