European Shares Fall as Investors Chew on Mixed Earnings Updates
By Investors Hub
European stocks are subdued on Thursday as investors digest mixed earnings updates and awaited new developments on global trade disputes.
While the U.K.?s FTSE 100 Index has edged up by 0.2 percent, the French CAC 40 Index and the German DAX Index are both down by 0.4 percent.
U.K. retail sales unexpectedly declined in June, but the quarterly growth rate was the fastest since 2015, preliminary data from the Office for National Statistics showed.
Retail sales dropped 0.5 percent from the previous month, while economists were looking for a 0.2 percent increase. The decline came after two months of strong growth.
Swiss engineering firm ABB has jumped after its second quarter net income climbed 30 percent on higher revenues.
Anglo-Dutch consumer goods giant Unilever has also moved to the upside. The company reported lower-than-expected second quarter sales but said it expects improvement in the second half.
Iliad shares have soared after the telecom firm said it has gained 1 million customers in Italy in the 50 days since launching there on May 29th.
Meanwhile, Anglo American has moved notably lower after the mining giant lowered its full-year guidance for iron ore.
Sports Direct International has also come under pressure in London as it reported a 73 percent slump in annual profits.
French advertising agency Publicis Groupe has also plunged after reporting a surprise drop in second quarter sales.
German business software provider SAP have moved to the downside after the company posted better-than-expected results for the second quarter and raised its full-year revenue forecast but reported lower-than-expected license growth.