BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Most of the markets across Europe ended on a weak note on Thursday, weighed down by concerns about the political situation in France, and a lack of significant data. Bank stocks were under pressure.
However, expectations of more interest rate cuts by the Federal Reserve limited markets' downside a bit.
The minutes of the Federal Reserve's September meeting showed the policymakers are seemingly in favour of further reductions.
Investors are also closely following the developments on the geopolitical front, tracking news about the political situation in France, and the Gaza peace plan.
French President Emmanuel Macron is reportedly looking to appoint a new prime minister tomorrow. According to reports, majority of lawmakers were against holding a snap parliamentary election amid France's worst crisis in decades.
The Pan European Stoxx 600 closed down by 0.43%. The U.K.'s FTSE 100 closed 0.41% down and France's CAC 40 drifted down 0.23%, while Germany's DAX edged up 0.06%. Switzerland's SMI lost 0.31%.
Among other markets in Europe, Belgium, Czech Republic, Finland, Greece, Portugal and Russia ended higher.
Denmark, Iceland, Ireland, Netherlands, Poland, Spain, Sweden and Turkiye closed weak, while Norway ended flat.
In the UK market, IAG climbed about 3.2%. Anglo American Plc, Weir Group, SSE, Metlen Energy & Metals, Schroders, Entain, Reckitt Benckiser, GSK, Fresnillo, Unilever, United Utilities, AstraZeneca and Smith & Nephew gained 1 to 2.2%.
WPP ended nearly 6% down. Barratt Redrow, Burberry Group, JD Sports Fashion, Croda International, Prudential and Endeavour Mining closed lower by 2 to 3.6%.
HSBC Holdings lost about 5.4% after the lender proposed taking its troubled Hong Kong subsidiary Hang Seng Bank Ltd. Private. Concerns over high premium paid for the acquisition, and the suspension of share buybacks for three quarters weigh on HSBC stock.
Lloyds Banking Group ended lower by 3.3% after the lender warned of additional provision linked to car finance mis-selling. Barclays drifted down 2.1%, Standard Chartered declined by about 1.65%, and Natwest Group settled lower by 1.3%.
In the German market, Heidelberg Materials and Bayer gained 2.9% and 2.8%, respectively. Deutsche Telekom, Fresenius and Siemens Energy gained 1.2 to 1.5%.
Zalando closed more than 3% down. Hannover Rueck settled lower by about 2.1%. Merck, Beiersdorf, Munich RE and Gea Group lost 1 to 1.6%.
Gerresheimer tanked 18.2% after the packaging and medical equipment maker cut its 2025 guidance for the third time this year.
In the French market, Danone climbed nearly 5%. Engie, Bouygues and Veolia Environment gained 1.6 to 2%.
Vinci, Orange, Air Liquide, Eurofins Scientific, Credit Agricole and Carrefour also posted notable gains.
Michelin closed nearly 4% down. LVMH, ArcelorMittal, Hermes International, L'Oreal, Legrand, Renault, Kering, Thales and Stellantis ended with sharp to moderate losses.
Germany's exports declined unexpectedly and imports dropped more than forecast in August, data from Destatis revealed. Exports dropped 0.5% in August from July, confounding expectations for an increase of 0.3%. This followed a decline of 0.2% in July.
At the same time, the decline in imports worsened to 1.3% from 0.7%. The pace of fall was also sharper than the forecast of 0.5%.
The trade surplus increased to EUR 17.2 billion from EUR 16.3 billion in July. The surplus was expected to fall to EUR 15.1 billion.
On a yearly basis, exports logged a decrease of 3.9% after rising 1.4% and imports rose at a slower pace of 1% following July's 4.4% increase.
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