European stocks gave up early gains and ended on a mixed note on Tuesday, as investors assessed the likely move of the Federal Reserve in the wake of recent economic reports, including the one on producer price inflation, released today.
Markets looked ahead to the more crucial U.S. consumer price inflation reading due on Wednesday.
Political uncertainty, fears about U.S. tariffs under the Trump administration, and inflationary concerns weighed. Investors also reacted to earnings updates from companies.
The pan European Stoxx 600 edged down 0.08%. The U.K.’s FTSE 100 closed down 0.28%, while Germany’s DAX and France’s CAC 40 gained 0.69% and 0.2%, respectively. Switzerland’s SMI closed flat.
Among other markets in Europe, Austria, Greece, Ireland, Poland, Portugal, Spain and Sweden ended higher.
Denmark, Finland, Iceland, Norway, Russia and Turkiye closed weak, while Belgium and Netherlands ended flat.
Persimmon, up 5.5%, was among the top gainers in the UK market. The stock surged thanks to a 7% increase in home completions. The company also said it expects its profit to come in at the upper end of expectations.
Airtel Africa, Ashtead Group, St. James’s Place, Pershing Square Holdings, Endeavour Mining, Informa, Fresnillo, Segro, IAG and Pearson gained 1.5 to 3.6%.
Shares of grocery retailer Ocado soared more than 9.5%, lifted by strong Christmas sales.
JD Sports Fashion closed down 6.3% after lowering its profit guidance. The stock plunged to a near 5-year low after the company cut guidance, saying its pretax profit will likely fall 4% below consensus.
BP ended down by about 2.5%, weighed down by the company’s warning that expects a $100-$300 million hit to fourth-quarter profits due to weaker refinery margin and lower production.
Games Workshop lost about 6%. Next, ICG, GSK, Croda International, Diageo, Centrica, Berkeley Group Holdings, AstraZeneca, Entain and Marks & Spencer ended lower by 1.5 to 3.4%.
In the German market, Siemens Energy, Deutsche Bank, Commerzbank, Rheinmetall, BASF, Daimler Truck Holding, Infineon, SAP and Deutsche Boerse gained 1 to 3.6%.
Symrise and Sartorius both lost more than 3%. Bayer closed down 2.2%. Brenntag, Beiersdorf, Deutsche Post and Qiagen lost 1.2 to 2%.
In the French market, Michelin, Societe Generale, BNP Paribas, Credit Agricole, Teleperformance, Renault, Safran, Accor and Veolia gained 1 to 2.7%.
Eurofins Scientific lost about 6%. Kering closed nearly 3% down. Sanofi and Edenred also ended sharply lower.
Market Analysis
European Stocks Pare Early Gains, Close On Mixed Note
2025-01-14 18:39:50
