European shares are mixed in the early afternoon Thursday, as investors contend with a number of earnings updates and company news releases. While some earnings reports were upbeat, it’s likely some investors were feeling less bullish after stock markets hit six-week highs Wednesday.
By 1350 BST, the EUROSTOXX 600 was flat, while the EUROSTOXX 50 was 0.083% in the red. Regional bourses were also mixed. The German DAX lost 0.19%, while the French CAC gained 0.15% and the Spanish IBEX was 0.08% in positive territory.
Earnings-news drives some gains
Earnings releases were plentiful, earlier Thursday and some positive releases helped push stocks higher.
Schneider Electric shares gained 1.89% to hit €74.24, following an impressive earnings release and news it was now targeting the top end of its 2018 growth outlook levels.
Publicis shares were also positive in the wake of a positive Q1 performance after a disappointing decline in Q4. Shares in the French advertising firm rose 6.73% to €59.92.
Also helping support the gains, was a 5.71% gain in Weir Group shares, which achieved £2,239. The UK engineering firm announced plans to purchase US-based ESCO Group in a move that will boost its business offerings.
Countering those stock gains, were a range of company news led share price falls.
Deutsche Bank shares lost 0.9% to trade at €11.61 following news the bank’s COO is set to step down in May, less than two weeks after news of the replacement of the German firm’s CEO, John Cryan.
Unilever shares were also 2.09% in the red after the consumer goods manufacturer reported a 5.2% Q1 decline in revenues. The company also said it would begin a share buyback programme of up to €6 billion.
Other European stock market fallers include:
- LVMH shares down 1.73% at €277.90.
- A 0.76% drop in Bayer shares to €99.56.
- Airbus shares 0.72% lower at €93.92.