European markets ended mixed on Thursday as investors stayed cautious and refrained from making significant moves amid continued concerns about inflation and speculation that the Federal Reserve will likely tighten its monetary policy sooner than expected.
Data showing a bigger than expected drop in U.S. jobless claims last week aided sentiment and pulled the market out of lower levels. Investors were also reacting to the latest batch of earnings reports and other corporate announcements.
Energy stocks tumbled after oil prices dropped amid worries about outlook for energy demand. Mining shares fell following a drop in iron ore prices.
The pan European Stoxx 600 edged down 0.14%. The U.K.’s FTSE 100 declined 0.59%. Germany’s DAX moved up 0.33% and France’s CAC 40 advanced 0.14%. The Switzerland stock market was closed for Ascension Day holiday.
Among other markets in Europe, Austria, Czech Republic, Ireland, Netherlands, Norway, Poland, Russia, Spain and Turkey closed weak.
Belgium, Denmark, Greece, Iceland and Portugal ended higher, while Finland ended flat.
In the UK market, BT Group tumbled nearly 6%. Burberry shares plummeted as the luxury brand reported a 10% drop in sales for the year to end-March.
Hargreaves Lansdown, Anglo American, Rio Tinto, BHP Group, Prudential, Fresnillo, Glencore, Antofagasta, BP and Royal Dutch Shell lost 2 to 5%.
Among the gainers, M&G surged up 4.2%, Pershing Square Holdings, 3i Group, Ashtead Group and Scottish Mortgage gained 2 to 2.5%, while Aveva Group, Ocado Group, Reckitt Benckiser and ICP moved up 1 to 1.6%.
In the French market, Technip plunged more than 5%. Valeo, Unibail Rodamco, Bouygues, Air France-KLM, ArcelorMittal, Credit Agricole and Faurecia shed 1 to 2.5%.
Shares of food and beverage company Danone gained 1.6% on news it is selling a potential $2 billion stake in China Mengniu Dairy Company.
Engie, STMicroElectronics, Hermes International, Dassault Systemes, WorldLine and LOreal also posted strong gains.
In the German market, Thyssenkrupp declined more than 5% and BMW shed about 3%. Lufthansa, Continental and Daimler also ended notably lower, while RWE, Merck and Fresenius Medical Care ended sharply higher.
In economic releases, U.K. house prices climbed notably in April as the increase in demand increasingly outstripped supply, monthly survey results from the Royal Institution of Chartered Surveyors, or RICS, showed.
Major European Markets Close Mixed
2021-05-13 18:11:10
