European Equities Close Higher in Thursday Trading; UK Q1 GDP Rises Sharply
The European stock markets closed higher in Thursday trading as the Stoxx Europe 600 gained 0.51%, Germany's DAX rose 0.65%, the FTSE 100 increased 0.57%, France's CAC 40 was up 0.21%, and the Swiss Market Index advanced 0.78%.
In the UK, the gross domestic product grew an estimated 0.7% in Q1 after expanding only 0.1% the previous quarter, according to the Office for National Statistics. The ONS also reported that monthly real GDP increased an estimated 0.2% in March following 0.5% growth in February.
In Switzerland, the Producer and Import Price Index increased 0.1% to 106.9 points in April from the previous month, according to the Swiss Federal Statistical Office. Prices rose for machinery, while petroleum and natural gas prices declined.
And in corporate news, shares of Hikma Pharmaceuticals rose more than 7% on the FTSE in London after it introduced revenue growth guidance Thursday of -6% to 8% for 2024 to 2027. It also introduced a five-year group revenue target of $5 billion by 2030.
Shell paid a total of about $28.1 billion to governments around the world to conduct extractive activities, according to a report released Thursday by the British oil and gas giant. Shell paid approximately $5.34 billion in production entitlements, taxes, and other charges to Nigeria in 2024, the most for any country, the company reported.
European automaker Stellantis said Thursday it will move production of Maserati GranTurismo and GranCabrio models to Modena from the Mirafiori plant in Turin, both in Italy, starting in Q4.
Finnish telecommunications company Nokia has officially spun out healthcare imaging tech firm Astranu, its first venture with technology venture capital firm Celesta Capital, Nokia and Celesta said Thursday.
Source : MT Newswires
