European Shares Decline As Investors Await Eurozone GDP Data

European stocks fell slightly on Thursday after data showed Germany’s industrial output unexpectedly fell in October in a further sign of deteriorating environment in the key manufacturing base of Europe’s largest economy.

The euro struggled for direction while bond yields rose ahead of the euro zone final third-quarter GDP due later in the day.

The pan European STOXX 600 was down 0.3 percent at 468.61 after hitting a more than four-month high on Wednesday amid expectations that global interest rates have peaked.

The German DAX slipped 0.2 percent, France’s CAC 40 was down 0.1 percent and the U.K.’s FTSE 100 dropped 0.3 percent.

Saint-Gobain shares were down half a percent. The French building materials firm has acquired Menkol Industries Private Limited, an Indian manufacturer specializing in high-added value waterproofing systems.

Biopharmaceutical company Ipsen SA rallied 1.5 percent after saying it expects sales to grow at least 7 percent on an average annually for the period 2023-27 at constant exchange rates.

Airline group Air France-KLM slumped 6 percent after JPMorgan analysts cut their rating on the stock.

Games Workshop slumped 11 percent in London after releasing its half-year trading update.

DS Smith, a packaging company, fell 1.2 percent after reporting a decline in pre-tax profit for the first half.

AJ Bell jumped 8.4 percent. The asset management company reported higher profit and revenues, as well as assets under management for fiscal 2023.

Future Plc shares plummeted 19 percent. The platform for specialist media announced that Penny Ladkin-Brand, Chief Financial and Strategy Officer, has informed the Board of her decision to step down later next year.

Watches of Switzerland Group declined 1.3 percent after its first-half profit before tax dropped 20 percent.

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