LONDON – European shares closed higher on Thursday as investors reacted to a streak of profits and continued to monitor developments in Ukraine, and Russia’s next move on gas supplies to Europe.
pan europe Stokes 600 It closed 0.4% higher, with auto, travel and technology stocks leading the gains as most major sectors and stock exchanges closed in positive territory. Core Resources bucked the upside to shed 1.6%.
There was mixed trade this week as concerns persisted over Ukraine and energy supplies to the region in the wake of Russia’s decision to halt gas flows to Poland and Bulgaria.
Gazprom Both countries reported that they had stopped supplies because they refused to pay for gas in rubles, as Moscow recently demanded. The move pushed European gas prices higher and euro lower, with the single currency falling to its lowest level in five years against dollar.
On Wall Street Thursday, The Nasdaq Composite Index rose after a strong earnings report from Meta Platforms.
Focus on profits
On another profit-filled day in Europe, Sanofi, TotalEnergies, HelloFresh, Banco Sabadell, Barclays, Sainsbury, Standard Chartered and Unilever were among the companies reporting Thursday.
Barclays Exceeded profit expectations on the back of strong performance from the corporate and investment banking division due to market volatility in the first quarter, but She suspended a planned stock buyback program On the back of a costly trading error in the US, the bank’s shares rose 3.2% by mid-afternoon.
Standard Chartered It rose more than 13% after a strong earnings report, while the Swiss software group Temenos It jumped more than 16% after Bloomberg reported that it received an acquisition approach from private equity firm Thoma Bravo.
At the bottom of the excellent European benchmark, the Swedish cloud computing company cinch It fell more than 21% after its quarterly results.