BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks turned in a mixed performance on Thursday, with U.K. stocks underperforming after the Bank of England reduced its benchmark interest rate for the fifth time in a year as domestic and geopolitical risks weigh on economic activity.
The Monetary Policy Committee voted 5-4 to cut the bank rate by 25 basis points to 4.00 percent. The fifth cut since last August took the rate to the lowest since early 2023.
In economic news, German exports grew for the first time in three months in June despite falling shipments to the U.S., data from Destatis revealed. Exports advanced 0.8 percent on a monthly basis in June, reversing a fall of 1.4 percent in May.
A separate report revealed that German industrial output decreased 1.9 percent on a monthly basis in June, bigger than May's revised 0.1 percent drop and also worse than economists' forecast of 0.4 percent fall.
Elsewhere, U.K. house prices increased by more-than-expected 0.4 percent in July from June, according to data from the mortgage lender Halifax.
While the U.K.'s FTSE 100 Index slid by 0.7 percent, the French CAC 40 Index advanced by 1.0 percent and the German DAX Index jumped by 1.1 percent.
A.P. Moller-Maersk shares rallied over 4 percent. The Danish shipping group raised its financial outlook for 2025 after posting strong second-quarter results.
Valneva, a specialty vaccine company, surged 3.3 percent after the FDA removed its recommended pause on the use of IXCHIQ.
Consumer goods and adhesives maker Henkel jumped 2.9 percent after lifting its full-year margin forecast.
Technology giant Siemens shot up 3.7percent after reporting better-than-expected revenue and order intake in its third quarter.
Insurer Allianz soared 4.1 percent after reporting better-than-expected second quarter earnings and affirming its full-year operating profit outlook.
On the other hand, defense firm Rheinmetall plunged 8.0 percent after reporting lower-than-expected second-quarter sales.
Deutsche Telekom also tumbled by 5.0 after reporting weaker second quarter results in its domestic market.
British advertising giant WPP gave up 2.6 percent on weak first-half results, with operating profit plunging 48 percent.
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