Modupe Gbadeyanka
By Investors Hub
European stocks are turning in a mixed performance on Thursday as weak earnings updates and mixed PMI data partly offsets investor optimism over progress in trade talks between the U.S. and China.
On the data front, the Eurozone manufacturing PMI dropped further to 49.2 in February, while the services PMI hit a three-month high of 52.3, survey from IHS/Markit Research showed.
A reading on French business activity topped forecasts, sending eurozone government yields higher across the board.
While the U.K.?s FTSE 100 Index has slumped by 1 percent, the French CAC 40 Index is just above the unchanged line and the German DAX Index is up by 0.3 percent.
French hotel giant Accor has moved significantly lower after reporting 2018 EBITDA in line with group’s guidance.
Banking giant Deutsche Bank has also dropped in Frankfurt on a Wall Street Journal report that it has lost $1.6 billion over nearly a decade on a complex municipal-bond investment that it bought before the 2008 financial crisis.
Danish shipping group Moeller-Maersk has also slumped on concerns over its outlook for 2019.
TechnipFMC is also posting a notable loss after the oil services firm took charges relating to its subsea business, restructuring costs and historical investigations into the company.
Centrica has also tumbled in London after a warning that the U.K. government’s cap on energy prices would hit its financial performance in 2019.
Defense giant BAE Systems has moved sharply lower. The company said a German ban on Saudi arms sales could hurt its financial performance.
On the other hand, Lender Barclays has rallied as it swung back to a profit in 2018. Public services provider Serco has also percent as it hiked its sales guidance for 2019.
Reinsurer Swiss Re has also shown a notable move to the upside after announcing a new share buyback.
