European Stocks Edge Up
Traders remained focused on corporate earnings while awaiting flash PMI data for an early assessment of economic performance this month.
The downturn in the French services sector unexpectedly deepened. Additionally, attention turned to Germany’s upcoming elections on Sunday, with the center-right CDU leading the polls, while Chancellor Scholz's center-left SPD has fallen to third place. Sector-wise, chemicals outperformed, while food and beverages, autos, and tech were also in positive territory.
Meanwhile, oil and gas, along with insurance, saw slight declines. Standard Chartered shares surged over 4% after the British bank reported a decline in Q4 net profit but announced a $1.5 billion share buyback. Leonardo also posted results that exceeded expectations. For the week, the STOXX 50 is down 0.6%, while the STOXX 600 has lost nearly 0.3%, snapping an eight-week winning streak.
Source: Trading Economics