European stocks mixed in tepid trading

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) – European stock markets were mixed on Thursday after hitting a two-week low on Wednesday on growth concerns.

Retail sales in the eurozone rose by 0.1 percent month-on-month in July, Eurostat reported today, in line with expectations.

Separate data showed German factory orders rose unexpectedly in July, mainly due to increased demand for transport equipment.

New orders rose 2.9 percent month-on-month in July after a revised 4.6 percent expansion in June. Orders were expected to fall 1.6 percent.

The pan-European STOXX 600 was down slightly at 514.72, after falling 1 percent on Wednesday.

Germany’s DAX rose 0.2 percent and Britain’s FTSE 100 edged higher, while France’s CAC 40 fell 0.2 percent.

Swedish luxury car giant Volvo Car AB rose about 2 percent despite lower sales and profit targets.

Shares in Churchill China fell 7.4 percent after the British pottery giant reported a 7.8 percent drop in revenue to £40.6 million for the first half of 2024.

Ashmore Group, an asset manager focused on emerging markets, rose nearly 3 percent after the company reported relatively positive final results.

Housebuilder Vistry Group rose 7.1 percent after announcing it would buy back £130 million ($171 million) of its own shares.

Associated British Foods fell 5 percent after the owner of Primark said wet weather put a damper on retail sales in the second half of the year.

German specialty chemicals company Lanxess AG rose 3.6 percent after Morgan Stanley raised its rating on the stock to Overweight from Underweight.

Copyright(c) 2024 RTTNews.com. All rights reserved.

Copyright RTT News/dpa-AFX