European stocks are showing amixed performance, with ASMLstanding out ahead of upcomingEurozone growth data.

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  • European stocks are showing amixed performance, with ASMLstanding out ahead of upcomingEurozone growth data.

European stock markets displayed a mixed performance on Thursday, with investors processing a flurry of corporate earnings alongside regional growth and employment figures.

As of 03:05 ET (08:05 GMT), Germany’s DAX index was up 0.6%, while France’s CAC 40 rose 0.2%. However, the UK’s FTSE 100 saw a slight decline of 0.1%.

Eurozone growth data in the spotlight  

European equities are struggling to make significant gains as the week concludes, hindered by concerns over a potential trade war with the newly-led Donald Trump administration in the U.S., as well as the eurozone’s ongoing economic stagnation.

Thursday’s focus in Europe is on the release of the eurozone’s second estimate for GDP growth and third-quarter flash employment data.

Preliminary data for October revealed that the eurozone economy grew faster than anticipated in the third quarter compared to the previous three months. However, the 0.4% quarterly growth underscored the fragility of the region’s recovery, with Germany—the bloc’s largest economy—showing particular weakness.

U.S. consumer inflation data for October, released on Wednesday, met expectations but indicated that inflation remains persistent. 

Although the data fueled speculation about a potential interest rate cut by the Federal Reserve in December, the longer-term outlook for rates became more uncertain, especially amid concerns over inflationary policies under the Trump administration.

ASML sees rising sales  

Thursday brought more corporate updates across Europe, with ASML (AS: ASML) seeing its stock climb 3%. The Dutch tech giant announced that it expects sales to increase by 8% to 14% over the next five years, driven by a surge in demand for its cutting-edge tools, fueled by the growing boom in AI technology. Burberry (LON: BRBY) shares surged 6% after new CEO Joshua Schulman outlined his strategy to turn around the struggling luxury fashion brand, despite reporting a half-year operating loss.

Aviva (LON:AV) saw its stock rise nearly 4% after the British insurer reported a 15% increase in gross written premiums for general insurance in the first nine months of the year, expressing confidence in meeting its group targets.

Crude prices pressured by demand worries  

Oil prices dropped on Thursday, impacted by concerns over global demand growth and rising production levels.

By 03:05 ET, Brent crude was down 0.1% at $72.22 per barrel, while U.S. crude (WTI) fell 0.2% to $68.33 per barrel.

Earlier this week, the Organization of Petroleum Exporting Countries (OPEC) downgraded its growth forecast for global oil demand in both 2024 and 2025, citing concerns about demand from China. The International Energy Agency (IEA) is expected to follow suit when it releases its monthly report later today.

At the same time, the U.S. Energy Information Administration (EIA) slightly raised its forecast for U.S. oil production this year, while also upping its global oil output projections for 2024.

The EIA will also release its weekly data on crude oil and product stockpiles later today, delayed by one day due to the Veterans’ Day holiday in the U.S. on Monday.

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