European Stocks Rebound
European stocks traded higher on Thursday afternoon, with the STOXX 50 rising 0.8% and the STOXX 600 gaining 0.9%, rebounding from a lackluster morning session. Investors assessed fresh corporate earnings while digesting the ECB’s latest monetary policy decision. As widely expected, the central bank left interest rates unchanged, noting that the full effects of the energy shock were still unfolding, while underlying inflation had remained broadly stable and wages had yet to show a material response. Shell added 2.6% after nearly doubling its earnings and profits. Adidas rose 4.2% after reporting record profits and raising its full-year outlook. Renault surged more than 7% after maintaining its full-year outlook. Volkswagen also rebounded, gaining 2.1% despite reporting a sharp operating loss for the quarter. On the downside, BBVA fell 3.3% after reporting lower profits in its domestic market, while Lloyds dropped 4.3% as its results disappointed investors.
European stocks traded higher on Thursday afternoon, with the STOXX 50 rising 0.8% and the STOXX 600 gaining 0.9%, rebounding from a lackluster morning session. Investors assessed fresh corporate earnings while digesting the ECB’s latest monetary policy decision. As widely expected, the central bank left interest rates unchanged, noting that the full effects of the energy shock were still unfolding, while underlying inflation had remained broadly stable and wages had yet to show a material response. Shell added 2.6% after nearly doubling its earnings and profits.
Adidas rose 4.2% after reporting record profits and raising its full-year outlook. Renault surged more than 7% after maintaining its full-year outlook. Volkswagen also rebounded, gaining 2.1% despite reporting a sharp operating loss for the quarter. On the downside, BBVA fell 3.3% after reporting lower profits in its domestic market, while Lloyds dropped 4.3% as its results disappointed investors.