UK GDP Growth and Trade Deficit

On Thursday, major European stock markets mostly closed higher. This followed reports showing the United Kingdom's gross domestic product (GDP) increased by 0.1%, while the country's trade deficit expanded to £10 billion in the final quarter of 2024.

Inflation Reports and Earnings

Investors also digested inflation reports from Germany and Switzerland, alongside earnings reports from major corporations such as Nestle, Commerzbank, and Barclays, among others.

Market Movements

The DAX rose by 2.09%, with Siemens adding to the gains, while the FTSE 100 declined by 0.55%, impacted by a significant drop in British American Tobacco. The CAC 40 climbed by 1.52%, with Legrand advancing notably. The Euro Stoxx 50 grew by 1.75%, with Adyen making a significant jump.

Currency Movements

At 5:28 pm CET, the euro gained 0.50% against the dollar, selling for $1.04434. Meanwhile, the pound was up by 0.75%, selling for $1.25381 at 5:29 pm CET.