European Stocks Mixed
European stocks were cautious on Thursday, with the STOXX 50 fluctuating around the flatline and the STOXX 600 slipping 0.1%. Investors digested a wave of corporate earnings, key economic data, the latest Fed decision, and a deal reached between Presidents Trump and Xi, while awaiting the ECB later in the day.
On Wednesday, the Fed cut the fed funds rate by 25bps as expected but Chair Powell indicated that another rate cut in December is not a foregone conclusion. The ECB, meanwhile, is expected to keep its monetary policy unchanged. Shell slipped 0.3% after announcing another share buyback. TotalEnergies fell 1.6% after reporting a slight decline in net income, while BBVA dropped nearly 2% following a fall in net profit.
WPP plunged 8.8% after issuing a profit warning. On the other hand, VW gained 1.3% as the company confirmed that vehicle production at its German plants would continue next week, despite reporting its first quarterly loss in five years.
Source: Tradingeconomics.com