European stocks closed on a mixed note on Friday with investors largely making cautious moves, digesting regional PMI data, and a slew of corporate earnings announcements, in addition to closely following the developments on the geopolitical front.
Uncertainty about U.S. government’s trade and economic stance weighed on stocks. Germany’s snap election on Sunday was in focus as well.
The pan European Stoxx 600 climbed 0.52%. France’s CAC 40 gained 0.39%, while the U.K.’s FTSE 100 and Germany’s DAX edged down 0.04% and 0.12%, respectively. Switzerland’s SMI closed up 1.1%. FTSE 100 and DAX both shed about 1% in the week, while CAC 40 recorded a marginal loss.
Among other markets in Europe, Austria, Belgium, Denmark, Finland, Iceland, Ireland, Norway, Poland and Portugal ended higher.
Netherlands, Russia, Spain and Turkiye closed weak, while Greece and Sweden ended flat.
In the UK market, Standard Chartered climbed nearly 4% after reporting its biggest earnings in a decade. The lender reported a net profit of $4.28 billion, with EPS rising to $1.41, well above forecasts. The bank, which attributed the strong performance to record growth in its wealth management division and robust market activity, has also announced a $1.5 billion share buyback.
Natwest Group, Diageo, Convatec Group, BT Group, Lloyds Banking Group, Barclays Group, Airtel Africa, Vodafone Group, Smith & Nephew and Associated British Foods gained 1.5 to 3.6%.
Endeavour Mining closed down 3.6%. British American Tobacco, BAE Systems, Imperial Brands, Mondi and Melrose Industries lost 2 to 2.5%.
Relx, Shell, Antofagasta, Fresnillo, GSK, Rentokil Initial, IAG and Rolls-Royce Holdings closed lower by 1 to 2%.
In the German market, BASF, Bayer, Volkswagen, Deutsche Bank, Porsche, RWE and Brenntag gained 1 to 1.7%.
Siemens Energy fell 3.3%. Sartorius closed nearly 3% down. MTU Aero Engines and Mercedes-Benz lost 2.3% and 1.6%, respectively.
In the French market, Air Liquide rallied nearly 3.5% after reporting 7.3% jump in earnings per share to 5.74 euros in fiscal 2024. The company’s net profit rose to 3.31 billion euros in 2024, up 7.4% from a year ago. Air Liquide has also lifted its medium-term operating margin guidance
Kering, Teleperformance, L’Oreal, Capgemini, Pernod Ricard, Stellantis, STMicroElectronics, Unibail Rodamco and Schneider Electric gained 1 to 2.5%.
Airbus Group closed lower by more than 3% following weaker-than-expected full-year guidance, fresh charges in its Space and defense divisions, and supply chain issues
Safran, Accor, Eurofins Scientific, TotalEnergies and Edenred lost 1 to 1.6%.
On the economic front, the HCOB Eurozone Composite PMI at 50.2 in February of 2025, remaining unchanged from the previous month for a second consecutive period. The Eurozone manufacturing PMI rose to 47.3 in February from 46.6 in January, while services PMI fell to a three-month low of 50.7 in February, down from 51.3 in January.
Data from S&P Global said the HCOB Germany Composite PMI rose to 51 in February, from 50.5 in January, according to flash estimates. The manufacturing PMI increased to a 24-month high of 46.1 in February, rising from a score of 45 in January.
Meanwhile, the Services PMI eased to 52.2 in February, from 52.5 a month earlier.
Monthly data from the statistical office INSEE said France manufacturing sentiment index rose slightly to 97 in February from 96.0 in January. The overall business confidence index rose further in February, with the measure rising to 96 from 95 in January. At the same time, the employment climate index declined to 94 from 98.
S&P Global said the HCOB France Composite PMI fell to 44.5 in February 2025, the lowest in over a year, compared to January’s 47.6, according to flash estimates.
The HCOB Flash France Manufacturing PMI rose to 45.5 in February 2025, up from 45 in January, in line with market expectations, while the Services PMI dropped to 44.5 in February 2025 from 48.2 in the previous month.
UK retail sales expanded at the fastest pace in eight months in January due to the rebound in food store sales volume, the Office for National Statistics said. Retail sales volume increased 1.7% in January from December, the report said.
This was the first increase in five months, the biggest growth in eight months and was also stronger than the expected increase of 0.4%.
On a yearly basis, retail sales growth softened to 1% in January from 2.8% in December. Economists had forecast sales to log a much weaker growth of 0.6%.
Elsewhere, survey data from the market research group GfK showed that British consumer sentiment rose moderately in February. The consumer sentiment index gained two points to -20.
Market Analysis
Major European Markets Close On Mixed Note
2025-02-21 18:23:34
