France stocks higher at close of trade; CAC 40 up 1.32%

Investing.com - European stock markets rose Thursday, with investors digesting a deluge of corporate earnings as well as regional growth and employment data.

At 06:40 ET (11:40 GMT), the DAX index in Germany traded 1.4% higher, the CAC 40 in France rose 1%, and the FTSE 100 in the U.K. gained 0.3%.

Eurozone grew in third quarter

The eurozone grew faster than market watchers expected in the third quarter from the previous three months, data released earlier Thursday confirmed, but quarterly growth of 0.4% showed the eurozone economy remained fragile.

At the same time, eurozone industrial production fell more than expected in September with Germany suffering the biggest fall among the bloc's largest nations, indicating than a long-expected recovery could be even further delayed.

Industrial production fell by 2.0% compared to the previous month, exceeding a 1.4% drop expected, even as the previous month's solid 1.8% growth figure was revised down to just 1.5%.

Investors are also concerned about a potential trade war with the new Donald Trump-led US administration.

U.S. consumer inflation data - released on Wednesday - read in line with expectations for October, but still showed inflation remained sticky.

While the reading still spurred bets on a December interest rate cut by the Federal Reserve, the longer-term rate outlook grew more uncertain, especially in the face of potentially inflationary policies under Trump.

Siemens impresses with results

Thursday is another busy day of corporate news in Europe.

Siemens (ETR:SIEGn) stock rose almost 6% after the German engineering company posted better than expected results and said it was in a good position to navigate mounting global political and trade tensions.

Deutsche Telekom (ETR:DTEGn) stock climbed 4% after the German telecommunications giant reported a strong third quarter, primarily driven by robust growth in Germany, and raised its guidance.

Scor (EPA:SCOR) rose over 7% after the French reinsurance company posted strong third quarter results.

ASML (AS:ASML) stock rose 5% after Europe's largest tech firm said it expects sales to grow by 8% to 14% over the coming five years, as a boom in AI fuels strong demand for its most advanced tools.

Burberry (LON:BRBY) stock soared 17% after new CEO Joshua Schulman unveiled his strategy to revive the struggling luxury fashion house, even as it reported a half-year operating loss.

Aviva (LON:AV) stock rose 4% after the British insurer posted a 15% rise in general insurance gross written premiums for the first nine months of the year, adding that it was confident of meeting group targets.

Crude bounces despite demand concerns

Oil prices edged higher Thursday, but gains have been limited by concerns surrounding global demand growth as well as higher production.

By 06:40 ET, the Brent contract climbed 0.1% to $72.65 per barrel, while U.S. crude futures (WTI) traded 0.5% higher at $68.78 per barrel.

The Organization of Petroleum Exporting Countries cut its forecast for world oil demand growth in both 2024 and 2025 earlier in the week, mainly on concerns about China’s demand, and the International Energy Agency is likely to follow suit when it publishes its monthly report later in the session.

Meanwhile, the US Energy Information Administration slightly raised its expectation of US oil output this year, while also increasing its global oil output forecast for 2024.

The EIA publishes its weekly crude oil and product stockpile data later in the session, a day later than usual following Monday’s Veterans’ Day holiday in the US.

Investing.com - European stock markets rose Thursday, with investors digesting a deluge of corporate earnings as well as regional growth and employment data.

At 06:40 ET (11:40 GMT), the DAX index in Germany traded 1.4% higher, the CAC 40 in France rose 1%, and the FTSE 100 in the U.K. gained 0.3%.

Eurozone grew in third quarter

The eurozone grew faster than market watchers expected in the third quarter from the previous three months, data released earlier Thursday confirmed, but quarterly growth of 0.4% showed the eurozone economy remained fragile.

At the same time, eurozone industrial production fell more than expected in September with Germany suffering the biggest fall among the bloc's largest nations, indicating than a long-expected recovery could be even further delayed.

Industrial production fell by 2.0% compared to the previous month, exceeding a 1.4% drop expected, even as the previous month's solid 1.8% growth figure was revised down to just 1.5%.

Investors are also concerned about a potential trade war with the new Donald Trump-led US administration.

U.S. consumer inflation data - released on Wednesday - read in line with expectations for October, but still showed inflation remained sticky.

While the reading still spurred bets on a December interest rate cut by the Federal Reserve, the longer-term rate outlook grew more uncertain, especially in the face of potentially inflationary policies under Trump.

Siemens impresses with results

Thursday is another busy day of corporate news in Europe.

Siemens (ETR:SIEGn) stock rose almost 6% after the German engineering company posted better than expected results and said it was in a good position to navigate mounting global political and trade tensions.

Deutsche Telekom (ETR:DTEGn) stock climbed 4% after the German telecommunications giant reported a strong third quarter, primarily driven by robust growth in Germany, and raised its guidance.

Scor (EPA:SCOR) rose over 7% after the French reinsurance company posted strong third quarter results.

ASML (AS:ASML) stock rose 5% after Europe's largest tech firm said it expects sales to grow by 8% to 14% over the coming five years, as a boom in AI fuels strong demand for its most advanced tools.

Burberry (LON:BRBY) stock soared 17% after new CEO Joshua Schulman unveiled his strategy to revive the struggling luxury fashion house, even as it reported a half-year operating loss.

Aviva (LON:AV) stock rose 4% after the British insurer posted a 15% rise in general insurance gross written premiums for the first nine months of the year, adding that it was confident of meeting group targets.

Crude bounces despite demand concerns

Oil prices edged higher Thursday, but gains have been limited by concerns surrounding global demand growth as well as higher production.

By 06:40 ET, the Brent contract climbed 0.1% to $72.65 per barrel, while U.S. crude futures (WTI) traded 0.5% higher at $68.78 per barrel.

The Organization of Petroleum Exporting Countries cut its forecast for world oil demand growth in both 2024 and 2025 earlier in the week, mainly on concerns about China’s demand, and the International Energy Agency is likely to follow suit when it publishes its monthly report later in the session.

Meanwhile, the US Energy Information Administration slightly raised its expectation of US oil output this year, while also increasing its global oil output forecast for 2024.

The EIA publishes its weekly crude oil and product stockpile data later in the session, a day later than usual following Monday’s Veterans’ Day holiday in the US.

Investing.com -- Scor (EPA:SCOR)'s shares rose following its third-quarter, boosted primarily by a strong Solvency II ratio of 203% that surpassed both market expectations and analysts' projections.

At 5:59 am (10:59 GMT), Scor was trading 9.5% higher at €22.42.

Scor's improved S2 ratio, which measures capital adequacy, exceeded the 191% consensus estimate.

This fortified capital position appears sufficient to support Scor's year-end dividend, though it was achieved through a significant cost-management measure—a three-year stop-loss contract that covers both property and casualty and life and health insurance.

The contract is priced at a "low double-digit million" amount under IFRS 17 earnings, contributing an additional 8 percentage points to the S2 ratio by lowering Scor's Solvency Capital Requirement (SCR) as a result of ceding risk.

However, the company reported a net loss of €117 million, which was below expectations of a €116 million profit.

The loss was attributed largely to unfavorable revisions in long-term assumptions and the true-up of certain arbitration positions, which reduced the S2 ratio by 4 percentage points.

These arbitration impacts, likely related to a settlement with Covéa, represent an ongoing factor affecting Scor's financial positioning.

Moreover, while interest rate shifts had only a minor impact, reducing the S2 ratio by just 2 percentage points, this figure was less than anticipated, indicating some unexpected resilience in Scor's balance sheet amid rate fluctuations.

In terms of operational performance, Scor's P&C segment delivered a steady combined ratio of 88.3%, aligning with expectations, despite slightly elevated natural catastrophe losses. However, the segment's insurance revenue and service results fell short of consensus by 9.4% and 14.1%, respectively.

On the other hand, the life and health segment faced considerable challenges, posting a €210 million service result loss, falling significantly below consensus estimates of €64 million.

Offsetting this somewhat, Scor's new business contractual service margin exceeded expectations by 11.5%, and the return on invested assets reached 4%, which was 0.5 percentage points above projections.

Analysts from Barclays (LON:BARC) and Jefferies said that Scor's improved S2 ratio is a positive development for capital stability, particularly in maintaining dividend viability.

Nevertheless, Scor's profitability continues to be pressured by the recent operational and arbitration-related costs, suggesting that the company's growth outlook may hinge on the effectiveness of its risk-ceeding strategies and cost control going forward.

Investing.com - European stock markets traded in a mixed fashion Thursday, with investors digesting a deluge of corporate earnings as well as regional growth and employment data.

At 03:05 ET (08:05 GMT), the DAX index in Germany traded 0.6% higher and the CAC 40 in France rose 0.2%, while the FTSE 100 in the U.K. dropped 0.1%.

Eurozone growth data in spotlight

European equities are struggling to post gains as the week draws to an end, weighed by concerns of a potential trade war with the new Donald Trump-led US administration as the eurozone struggles to register any major economic growth.

In focus in Europe Thursday will be the release of the eurozone's second estimate for gross domestic product growth and third-quarter flash employment data.

Preliminary figures in October showed the bloc grew faster than market watchers expected in the third quarter from the previous three months, but quarterly growth of 0.4% showed the eurozone economy remained fragile, with the largest component - the German economy - particularly weak.

U.S. consumer inflation data - released on Wednesday - read in line with expectations for October, but still showed inflation remained sticky.

While the reading still spurred bets on a December interest rate cut by the Federal Reserve, the longer-term rate outlook grew more uncertain, especially in the face of potentially inflationary policies under Trump.

ASML sees growing sales

Thursday is another busy day of corporate news in Europe.

ASML (AS:ASML) stock rose 3% after Europe's largest tech firm said it expects sales to grow by 8% to 14% over the coming five years, as a boom in AI fuels strong demand for its most advanced tools.

Burberry (LON:BRBY) stock rose 6% after new CEO Joshua Schulman unveiled his strategy to revive the struggling luxury fashion house, even as it reported a half-year operating loss.

Aviva (LON:AV) stock rose almost 4% after the British insurer posted a 15% rise in general insurance gross written premiums for the first nine months of the year, adding that it was confident of meeting group targets.

Crude prices hit by demand concerns

Oil prices fell Thursday, weighed down by concerns surrounding global demand growth as well as higher production.

By 03:05 ET, the Brent contract dropped 0.1% to $72.22 per barrel, while U.S. crude futures (WTI) traded 0.2% lower at $68.33 per barrel.

The Organization of Petroleum Exporting Countries cut its forecast for world oil demand growth in both 2024 and 2025 earlier in the week, mainly on concerns about China’s demand, and the International Energy Agency is likely to follow suit when it publishes its monthly report later in the session.

Meanwhile, the US Energy Information Administration slightly raised its expectation of US oil output this year, while also increasing its global oil output forecast for 2024.

The EIA publishes its weekly crude oil and product stockpile data later in the session, a day later than usual following Monday’s Veterans’ Day holiday in the US.