European stocks were mixed on Wednesday as investors awaited the release of key U.S. and Eurozone inflation readings along with Chinese PMI data this week for directional cues.
On a light day on the economic front, the European Commission is set to release euro area economic sentiment survey data for February later in the day.
The U.S. economic calendar features second estimate of Q4 GDP growth.
The pan European STOXX 600 was down 0.1 percent at 495.74 after closing up 0.2 percent on Tuesday.
The German DAX rose 0.2 percent and France’s CAC 40 was marginally higher while the U.K.’s FTSE 100 dropped half a percent.
ASM International gave up 3.1 percent. The semiconductor equipment maker projected revenue this quarter that fell far below market expectations.
Just Eat Takeaway.com slumped 6.3 percent after the food delivery company reported a narrower net loss for last year.
British consumer goods group Reckitt Benckiser slumped 8.5 percent after fourth quarter like-for-like net sales came in below expectations.
Luxury car maker Aston Martin fell 2.8 percent after it pushed back plans to launch its first battery electric vehicle by a year.
Vodafone rallied 3 percent. The telecoms giant said it is in advanced talks with Swisscom about a cash sale of its Italian arm.
Glanbia, a dietary supplement company, soared 8.4 percent after reporting a 20 percent increase in full year after tax profits.
Halfords Group plummeted 25 percent after the motoring and cycling company trimmed its fiscal 2024 profit forecast.
Housebuilder Taylor Wimpey lost 3.4 percent after reporting a fall in FY23 pretax profit.
Capita, a business process outsourcing firm, climbed over 4 percent.
The company said that it has extended and expanded its customer service contract with an undisclosed European telecoms provider.
French media conglomerate Lagardere tumbled 3 percent after saying it had received an offer from luxury goods group LVMH to buy Paris Match magazine.
Retailer Casino Group slumped 10 percent after losses deepened in 2023.
Worldline plummeted 9.3 percent as the payment firm reported a full-year loss on a 1.15-billion-euro “goodwill impairment” linked to its merchant services activities.
Nicox lost 3 percent. The ophthalmology company said it has appointed the highly experienced biotech executive Gavin Spencer as its Chief Executive Officer.
German Utility Uniper rose about 1 percent after it swung to profitability last year.
Lanxess AG fell 3.6 percent. The specialty chemicals company said it has identified an impairment requirement on goodwill amounting to 413 million euros, mainly affecting the Business Units Flavors & Fragrances and Polymer Additives.
Business News
European Shares Mixed Amid Earnings Deluge
2024-02-28 09:54:02
