Leading European stock markets are mostly trading mixed ahead of Thursday’s close, after recovering losses in Frankfurt and Paris earlier in the day.
Norway raised its key interest rate by 25 basis points to 4.50 percent, as expected. The central bank believes that somewhat tighter monetary policy is needed to bring inflation back to the 2 percent target within a reasonable period. Norges Bank expects the rate to remain at a high level for some time and is prepared to raise it further if the inflation outlook requires it.
Switzerland left its key interest rate unchanged at zero percent, in line with expectations.
The broad European Stoxx 600 index was down 0.17 percent at 638.83 at 16:17. During the day, the index has traded within a range of -0.66 percent at its lowest and 0.01 percent at its highest.
By sector, energy has performed best, up 1.20 percent, while food is recording the second-best performance, up 0.89 percent.
Technology has performed worst, down 1.54 percent, while basic resources are recording the second-weakest performance, down 0.93 percent.
French energy technology company Schneider Electric has agreed with Shelly Group, which sells smart home technology, on an offer of 70 euros per share. This corresponds to a value of 1.27 billion euros for Shelly, which competes with Swedish Plejd. Schneider’s share is down 0.7 percent.
German vehicle manufacturer Mercedes-Benz Group plans to reduce personnel costs in Germany by 800 million euros. This was reported by people familiar with the matter to business newspaper Wirtschaftswoche. The share is down 1.2 percent
Sports and leisure retailer Outlet Group began trading on the Oslo Stock Exchange on Thursday and the share got off to a good start. The offering comprised shares worth 1.3 billion Norwegian kronor. The share is climbing 9.8 percent compared with the subscription price of 33 Norwegian kronor.
Finnish construction company YIT raised its growth target for the years 2025 to 2029, citing the rapidly growing data center market in Finland. The target is now average annual revenue growth of at least 10 percent through 2029, based on 2024, compared with at least 5 percent previously. The target of an adjusted operating margin of at least 7 percent and a return on capital employed of at least 15 percent remains unchanged. The share is advancing 6.8 percent.
IndexLastToday, %This year, %TimeStoxx 600638,83-0,17%7,88%16:17:00FTSE 10010 725,990,19%8,00%16:17:13DAX25 365,13-0,18%3,57%16:17:11CAC 408 112,45-0,13%-0,45%16:17:00Stoxx 600 sector performance:Automobiles & parts434,48-0,42%-17,23%16:17:00Banks424,00-0,42%19,34%16:17:00Basic resources814,89-0,93%22,32%16:17:00Chemicals1 279,770,14%15,56%16:17:00Construction & materials789,58-0,38%-6,89%16:17:00Oil & gas560,341,20%38,49%16:17:00Financial services923,41-0,93%2,67%16:17:00Food630,460,89%1,25%16:17:00Industrial goods1172,23-0,81%9,73%16:17:00Insurance531,350,60%4,11%16:17:00Media378,23-0,20%-5,18%16:17:00Healthcare1 114,430,50%-2,42%16:17:00Technology1 004,78-1,54%20,10%16:17:00Telecommunications277,78-0,44%8,56%16:17:00Utilities527,21-0,08%7,64%16:17:00Consumer goods932,530,61%-13,13%16:17:00Retail462,48-0,79%-4,89%16:17:00Travel & leisure272,73-0,72%-2,77%16:17:00Real estate118,35-0,50%-6,32%16:17:00Source: Factset
