European stock indexes declined on Thursday for the second day in a row as investors assessed statistical data and company reports.
The Stoxx Europe 600 composite index of the region’s biggest companies was down 0.37% at 1:02 p.m., trading at 466.41 points.
The French CAC 40 was down 0.4% during the session, the British FTSE 100 – 0.2%, the German DAX – 0.7%, the Italian FTSE MIB – 0.9% and the Spanish IBEX 35 – 0.5%.
The index of business confidence in the French economy in April fell to 101 points from 104 points the previous month, said the national statistics office Insee. This is the lowest level in the last five months. The result was worse than analysts’ average forecast of 103 points.
Renault SA share price collapsed by more than 7%. The French carmaker boosted revenue in the first quarter by 30% year-over-year, while exceeding forecasts. However, the company said it continues to face logistical difficulties.
German carmakers are also down, including Porsche down 3.4%, Volkswagen down 2.8%, Bayerische Motoren Werke AG down 2.7% and Mercedes-Benz down 2.6%.
Stellantis shares dropped 5% on news of the unexpected resignation of its chief financial officer Richard Palmer, who will be replaced by Natalie Knight, according to Trading Economics.
In addition, securities of Pirelli & Co. and Ferrari are becoming cheaper – by 1.7% and 2.2%, respectively.
Britain’s Deliveroo Plc, a food delivery service operator, increased its revenue by 7% in the first quarter and confirmed its outlook for the current year. Nevertheless, the stock is down 0.6% as the number of orders and monthly number of active customers fell.
Finnish telecommunications equipment maker Nokia Corp. boosted revenue 9.6% in the first quarter, but net income was worse than the consensus forecast. The company’s market value is down 6.3 percent.
Autoliv, a Swedish-American maker of safety systems for cars, said it will build an airbag factory in Vietnam that will be operational by the end of 2025. The company’s stock is down 0.4%.
Following the fall in oil prices, securities of oil companies, including TotalEnergies – by 0.5%, BP Plc – 0.9%, Shell – 0.7%.
Meanwhile, the capitalization of the Swedish Volvo AB grows by 1.7%. In January-March, the car concern recorded a record for the first quarter deliveries of trucks and its order book grew by 32%.
Shares of French L’Oreal SA are up 0.3%. Growth in comparable sales of one of the world’s largest cosmetics manufacturers in the past quarter exceeded analysts’ expectations.
Italian oilfield services company Saipem SpA is up 2.1 percent, also thanks to good quarterly reports.
