European markets opened mostly higher but turned mixed as the session progressed, with investors reacting to Nvidia’s (NASDAQ:NVDA) latest earnings report. U.K. stocks lagged, weighed down by declines in banking and utility sectors.
The French CAC 40 gained 0.4%, while Germany’s DAX hovered near the flatline, and the U.K.’s FTSE 100 fell 0.3%.
Technology stocks received a boost from Nvidia’s upbeat outlook, lifting shares of Infineon (TG:IFX) and ASM International (EU:ASM).
Thyssenkrupp Nucera (TG:TKA), the German electrolysis specialist, climbed after being chosen by Australia’s Progressive Green Solutions as the preferred supplier of 1.4 GW electrolyzers for the Mid-West Green Iron project.
Automotive supplier Continental (TG:CON) rose following the announcement of its sale of the ContiTech Original Equipment Solutions division to Regent. Car manufacturers BMW (TG:BMW), Volkswagen (TG:VOW3), and Mercedes Benz (TG:MBG) also advanced after industry data showed a 5.9% increase in new car sales across Europe in July. French automaker Renault similarly saw its shares jump.
Pernod Ricard (EU:RI) outperformed expectations, climbing after reporting a smaller-than-anticipated 3% decline in annual organic revenue.
Conversely, U.K.-based energy services company Hunting (LSE:HTG) dropped sharply after its first-half results fell short of forecasts.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Leave a Reply