European Shares Hold Steady As Investors Await Key Trump Speech
2025-01-17
1318
(fxcue news) - European stocks were flat to slightly higher on Thursday after China rolled out a basket of measures to funnel capital into the country's stock markets.
Amid much uncertainty over the impact of U.S. President Donald Trump's proposed tariffs on several countries, traders looked ahead to his keynote address at the World Economic Forum in Davos, Switzerland, later in the session for further direction.
The pan European STOXX 600 was marginally higher at 528.32 after rising 0.4 percent to close at a near four-month high the previous day.
The German DAX edged up by 0.2 percent, adding to the 1 percent rally on Wednesday to a record close.
France's CAC 40 was up 0.2 percent and the U.K.'s FTSE 100 traded flat with a positive bias.
In corporate news, Puma shares slumped 16 percent. The German sportswear company announced a cost-cutting program after preliminary result showed a decline in operational profit.
Associated British Foods declined 1.3 percent after cutting guidance for sales growth at its Primark discount fashion retailer.
Swedish hygiene products maker Essity lost nearly 5 percent after fourth-quarter core earnings came in below expectations.
British online trading firm IG Group Holdings fell 2.2 percent despite posting a 30 percent rise in its first-half profit.
Sandvik AB rallied 3.5 percent after reporting a slight increase in its fourth-quarter net income.
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