European Equities Rebound on Thursday
By Investors Hub
European stocks have rebounded on Thursday as a semblance of stability returned to the markets after a global rout.
The French CAC 40 Index has jumped by 1.2 percent and the German DAX Index is up by 0.2 percent, although the U.K.?s FTSE 100 Index has bucked the uptrend and edged down by 0.1 percent.
The European Central Bank signaled determination in winding up its massive asset purchase program, which was implemented in 2015 to support the economy, at the end of this year.
As announced in June, the ECB halved its monthly bond purchases to 15 billion euros this month, and said it will continue to d so till the end of December.
UBS has advanced after the Swiss bank reaffirmed its strategy and ambitions after reporting stronger than expected third quarter results.
German sportswear firm Puma has also soared after lifting its full-year sales and operating profit outlook.
Automaker Daimler has also moved higher on news the company is reviewing its product footprint to cope with a challenging environment in the industry.
Schneider Electric has also jumped in Paris. The electrical equipment manufacturer lifted its full-year guidance after posting better than expected third-quarter revenues.
On the other hand, chemicals and biotechnology firm Lonza Group has fallen despite the company confirming its 2018 outlook and mid-term guidance.
AB InBev is posting a steep loss as the Belgian brewing giant halved its dividend after reporting a drop in third quarter net profits.
WPP shares have also plunged in London. The advertising group cut its outlook for sales and profit margin this year, citing a slowdown in client spending and structural changes in the industry.
In economic news, German business sentiment weakened for the second straight month in October, survey data from Ifo Institute showed.
The business climate index fell more than expected to 102.8 in October from 103.7 in September. The expected score was 103.2.