A Shell gas station on May 03, 2024 in Austin, Texas.
Brandon Bell | Getty Images
LONDON — European stocks are expected to open flat to lower as traders gear up for more regional earnings reports Thursday.
The U.K.’s FTSE and Germany’s DAX are expected to open 0.25% lower, while France’s CAC 40 and Italy’s FTSE MIB are seen opening flat today, according to data from IG.
It’s another busy day of earnings reports in Europe with BBVA, BNP Paribas, Vinci, BMW, Siemens Healthineers, Anglo American, Danske Bank, ArcelorMittal, Moller Maersk and Vestas Wind Systems among the companies reporting.
Meanwhile, British oil major Shell on Thursday reported weaker-than-expected fourth-quarter profit amid lower crude prices, with adjusted earnings of $3.26 billion for the quarter, missing analyst expectations of $3.53 billion, according to an LSEG-compiled consensus.
The European Central Bank and Bank of England are both due to publish their latest monetary policy decisions on Thursday. Neither central bank is expected to change its current interest rate position.
Global markets have experienced turbulence this week, with Wall Street seeing a second straight day of losses Wednesday following a selloff in software stocks.
S&P 500 futures rose overnight after the latest batch of corporate earnings, including Alphabet results. The quarterly results of fellow “Magnificent Seven” member Amazon are due Thursday.
Meanwhile, in Asia-Pacific markets overnight, South Korean stocks led declines, tracking Wall Street losses as the tech sell-off gained momentum.
Data releases in Europe on Thursday include German factory orders, French industrial production and EU retail sales.
— Jordan Butt contributed to this report
