The European stock indexes are mainly declining in trading on Thursday as investors are waiting for data on consumer price dynamics in the U.S. and continue to evaluate quarterly reports of companies.
By 10:53 a.m. the Stoxx Europe 600 composite index of the largest companies in the region had declined 0.24% to 419.34 points.
The British FTSE 100 stock index was down 0.19%, Germany’s DAX was down 0.09%, Spain’s IBEX 35 was down 0.49% while France’s CAC 40 was down 0.37%. Meanwhile, Italy’s FTSE MIB gained 0.15%.
The U.S. Labor Department will release inflation data at 3:30 p.m. ET on Thursday. Analysts on average forecast that the rate of consumer price growth slowed to 8% in October from 8.2% a month earlier.
The data could affect the policy of the U.S. Federal Reserve (Fed), which is aggressively raising interest rates in an attempt to curb inflation.
Meanwhile, in the U.S., congressional vote counting continues. The majority in the House of Representatives, most likely, will go to the Republicans, but in the Senate the balance of power is not clear yet, the final result could be known in a few weeks.
The leader of the fall among the components of the Stoxx 600 are the shares of the French outsourcing company Teleperformance SE, which went down by 26.75%.
Deutsche Telekom AG papers are cheapening by 2.3%, although the Europe’s largest telecoms company increased its net profit 1.8 times in the third quarter this year and improved its annual adjusted profit forecast for the third time since the beginning of the year.
Credit Agricole Group’s share price is down 4.5%. The French banking group recorded a slight decline in net profit and revenue in the third quarter of 2022 amid high volatility in financial markets.
Shares of German Knorr-Bremse AG, which specializes in production of braking systems for trucks and commercial vehicles, rose 10.1%. The company increased its revenue in the third quarter of this year and confirmed its full-year forecast.
Delivery Hero SE is up 10.7%. The German delivery service updated its full-year financial outlook.
Shares of RWE AG are up 2.1%. The German energy company doubled its net profit excluding one-time factors in the first nine months of 2022 thanks to the rapid development of its renewable energy operations.
