European stock markets closed higher on Thursday as investors assessed U.K. growth figures for the fourth quarter and monitored corporate earnings.
The Stoxx 600 index provisionally ended up 0.6%, with major bourses and most sectors in positive territory. Construction stocks rose 1.1% as oil and gas stocks fell 0.9%.
Autos were up 2%, with France’s Renault up 6.3% after announcing a hefty dividend rise and reiterating a target of double-digit operating margins by 2030.
The U.K. economy contracted by 0.3% in the final quarter of 2023, pushing the country into a technical recession after third-quarter growth was revised down to -0.1%.
Among the firms reporting, Germany’s Commerzbank posted a 55% jump in full-year net profit and its best result for 15 years, as fourth-quarter results slightly outperformed.
Planemaker Airbus announced a special dividend of 1 euro per share as it reported higher revenue and orders but a fall in earnings per share.
Asia-Pacific markets were mostly higher Thursday, with Tokyo’s Nikkei 225 seeing a late rally to close above the 38,000 mark for the first time since 1990. That came as Japan lost its spot as the world’s third-largest economy, with gross domestic product falling 0.4% in the fourth quarter, versus expectations for 1.4% growth.
U.S. stocks were mixed. Various releases are due stateside, including January retail sales and weekly unemployment claims.
Source: https://www.cnbc.com/2024/02/15/european-markets-open-to-close-uk-economy-ftse-100-earnings.html
