Economic Indicators and Corporate Earnings Drive European Stocks

European stock markets experienced a mostly positive closing on Thursday, buoyed by the latest economic data and corporate earnings reports. The United Kingdom's economy showed a slight growth, with GDP increasing by 0.1%. However, the trade deficit widened to £10 billion in the last quarter of 2024. Investors also focused on inflation data from Germany and Switzerland, alongside earnings releases from major corporations like Nestle, Commerzbank, and Barclays.

Market Movements Across Europe

The DAX index in Germany saw a significant rise of 2.09%, with Siemens leading the gains. Conversely, the FTSE 100 in the UK declined by 0.55%, impacted by a notable drop in British American Tobacco shares. France's CAC 40 index climbed 1.52%, thanks to a strong performance by Legrand. The Euro Stoxx 50 also enjoyed a 1.75% increase, with Adyen making a remarkable leap of 14.37%.

Currency Fluctuations

In currency markets, the euro strengthened by 0.50% against the dollar, trading at $1.04434. The British pound also saw an uptick, increasing by 0.75% to $1.25381.