Spanish Stocks Remain Tepid

The IBEX was nearly flat at around 11,580 in early trading on Thursday, extending the cautious sentiment from the previous session, as investors continued to assess developments in the Ukraine-Russia war.

On Wednesday, Ukraine launched Western-supplied long-range weapons for the second time, a day after President Putin approved an updated nuclear doctrine expanding the conditions for using nuclear weapons.

Most major Spanish stocks traded in the red, with early decliners including Inditex (-0.1%), Santander (-0.3%), Aena (-0.8%), and Ferrovial (-0.8%).

However, gains were seen in electronic tech stocks and energy minerals shares, both rising by over 1%.

Notable gainers included Airbus (+1.6%), Petrobras (+1.3%), and Repsol (+0.9%).

The DAX was down 0.1% to trade around the 18980 level on Thursday, on track to book a fifth straight session of losses, and tracking its European peers.

Cautious sentiment returned as traders digest quarterly results from Nvidia, with the company reporting earnings that surpassed quarterly estimates but sales forecast for the current period didn’t match some of the more optimistic forecasts.

In addition, escalations in the Russia-Ukraine conflict and the economic and monetary outlook in Europe continue to weigh on investors' mood.

The auto sector was under pressure, namely Porsche (-1.9%), BMW (-1.3%), Mercedes-Benz (-0.8%) and VW (-0.6%).

In contrast, Fresenius (1.8%) was among the top performers.

The FTSE MIB fell by 0.6% in early trading on Thursday, marking its fifth consecutive session of losses.

The index reflected a cautious sentiment across global markets as investors digested Nvidia's quarterly earnings report.

Market participants also remained attentive to ongoing developments in the Russia-Ukraine conflict.

Automotive stocks were among the early losers, with Stellantis falling 1.6% and Iveco dropping 1.7%.

The luxury sector also faced pressure, as Moncler declined 2.1% and Brunello Cucinelli shed 0.8%.

The FTSE MIB fell by 0.6% in early trading on Thursday, marking its fifth consecutive session of losses.

The index reflected a cautious sentiment across global markets as investors digested Nvidia's quarterly earnings report.

Market participants also remained attentive to ongoing developments in the Russia-Ukraine conflict.

Automotive stocks were among the early losers, with Stellantis falling 1.6% and Iveco dropping 1.7%.

The luxury sector also faced pressure, as Moncler declined 2.1% and Brunello Cucinelli shed 0.8%.

The CAC 40 fell 0.5% to 7,163 on Thursday, marking its third consecutive session of losses as cautious sentiment prevailed.

Investors continued to weigh escalating tensions in the Russia-Ukraine conflict alongside the broader economic and monetary outlook in Europe.

Most stocks in the index traded in the red, with Teleperformance and Kering leading losses, each down 1.7%.

Stellantis NV also fell 1.6% to a three-week low after announcing a delay in the launch of its Ram EV trucks to fiscal year 2025.

Additionally, Vivendi and Bouygues both shed 1.4%.

On the upside, Thales gained 0.6%, while Eurofins Scientific saw a modest increase of 0.4%.

The FTSE 100 swung between small gains and losses on Thursday, tracking a cautious sentiment across global markets, amid ongoing geopolitical tensions between Russia and Ukraine.

Investors also weighed Nvidia's strong third-quarter results, but slower revenue growth forecasts left them disappointed.

Among individual stocks, JD Sports Fashion plunged over 13% and was at the bottom of the index after saying it expected full-year profits to be at the lower end of its forecast range after a "volatile" trading environment in October.

Other fallers included Vodafone and National Grid, down by about 2% as their shares began trading without the right to their latest dividend awards.