European Equities Close Mixed in Thursday Trading; ECB Report Loss for 2024
The European stock markets closed mixed in Thursday trading as The Stoxx Europe 600 was down 0.18%, Germany's DAX fell 0.41%, the FTSE 100 in London dropped 0.61%, France's CAC 40 was up 0.13%, and the Swiss Market Index edged 0.05% higher.
The European Central Bank reported a loss of 7.94 billion euros ($8.32 billion) for 2024, which it said will remain on its balance sheet to be offset against future profits. The ECB said that due to the loss, there will be no profit distribution to euro area national central banks for 2024.
Seasonally adjusted production in construction was unchanged in the euro area and rose 0.4% in the EU in December compared with November, according to first estimates from Eurostat, the statistical office of the EU. Compared with a year earlier, production in construction decreased 0.1% in the euro area and 0.8% in the EU.
In Germany, producer prices for industrial products rose 0.5% in January from a year earlier, according to the Federal Statistical Office. Compared with the previous month, producer prices declined 0.1%.
And in corporate news, Stellantis introduced its first in-house-developed automated driving system Thursday, which it said provides hands-free and eyes-off, or SAE Level 3, functionality. The European automaker said STLA AutoDrive 1.0 is ready for it to be deployed in all of its branded vehicles.
British software firm Endava reported fiscal Q2 adjusted diluted earnings Thursday of 0.30 pounds ($0.38) per share, compared with 0.30 pounds per share a year earlier. Analysts polled by FactSet expected $0.31 per share. Revenue for the quarter ended Dec. 31 was 195.6 million pounds, compared with 183.6 million pounds a year earlier.
And shares of Lloyds Banking closed 5% higher in London after the British bank announced plans to implement a share buyback program of up to 1.7 billion pounds.
Source : MT Newswires
