European shares muted as losses in energy offset gains in financials
The benchmark index hit a record high on Wednesday, as lesser-than-expected rise in U.S. consumer prices in April boosted bets for a September Federal Reserve rate cut.
opened on a sombre note on Thursday, dented by and energy as multiple industry heavyweights traded ex-dividend, countering gains in stocks like and following upbeat earnings.The pan-European was unchanged as of 0725 GMT, after gaining for nine straight days.
The benchmark index hit a record high on Wednesday, as lesser-than-expected rise in U.S. consumer prices in April boosted bets for a September Federal Reserve rate cut.
Automobiles were the worst hit as and dropped 5.6% and 3.1%, respectively, upon trading ex-dividend.
also fell 0.9%, with oil major shedding 2% on trading ex-dividend.
Shares of lost 1.5% as second-quarter industrial profit fell 2% and missed estimates after a slowdown at its flagship factory automation division.
Meanwhile, Zurich Insurance climbed 2.1% reporting rising first-quarter property and casualty premiums, helped by increased rates.
Reinsurance company Swiss Re rose 3% after reporting better-than-expected first-quarter net profit and on plans to exit its digital white-label business.
Source: Stocks-Markets-Economic Times
