Live Markets: Earnings drive mixed index performance
LIVE MARKETS-Earnings drive mixed index performance Adds new blog entry
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EARNINGS DRIVE MIXED INDEX PERFORMANCE
Major European stock indexes are mostly higher on Thursday although a slide in Spanish banks, notably BBVA after earnings, is weighing sharply on the IBEX.
Madrid's blue-chip index is down 1%, compared to gains elsewhere. Major indexes in Paris .FCHI, London .FTSE and Frankfurt .GDAXI are up between 0.5% and 0.8%.
The pan-continental STOXX 600 .STOXX is up 0.4%. Breadth is positive, with almost 70% of companies advancing.
As earnings pour in, a number of stocks are making outsized moves. The aforementioned BBVA BBVA.MC is down about 5% after what Jefferies described as a "mixed bag", saying that performance in Mexico was in line, while Spain was weak. Other Spanish banks are also lower on Thursday.
Other big fallers include Haleon HLN.L, down 12%, and Campari CPRI.MI, down 5.5%.
At the other end, German semiconductor equipment maker Aixtron AIXGn.DE is up 6% after a big jump in revenue, while French carmaker Renault RENA.PA is rising 5% on stronger-than-forecast revenue growth.
Wall Street futures EScv1, NQcv1 are soft, weighed on by Alphabet GOOGL.O, whose shares are down 10% in pre-market trade after disappointing results.
Here's your opening snapshot:
(Samuel Indyk)
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EARLIER ON LIVE MARKETS:
EUROPE BEFORE THE BELL: NO TIME FOR A BREATHER CLICK HERE
IN THE AI ALPHABET, CASH IS KING CLICK HERE