European Stock Market Closes Mixed on Cautious Trading

By Investors Hub

European stocks are mixed in cautious trade on Thursday. While stronger-than-expected Chinese GDP data and expectations for improved corporate earnings has supported underlying sentiment, U.K. stocks have extended losses from the previous session, hit by a rising pound and mixed earnings updates.

The euro has regained some ground following dovish comments by European Central Bank policymaker Ewald Nowotny.

While the German DAX Index has risen by 0.4 percent, the French CAC 40 Index is down by 0.1 percent and the U.K.?s FTSE 100 Index is down by 0.5 percent.

Geberit Group shares have jumped after the Swiss sanitary technology solutions provider reported that its net sales for the fourth quarter grew 10.9 percent from last year to 706.0 million Swiss francs.

German chipmaker Infineon has also rallied after an upgrade from Goldman Sachs. French retailer Carrefour has climbed after reporting an improved fourth-quarter performance.

Meanwhile, Associated British Foods has tumbled in London after it provided a weaker-than-anticipated outlook for its sugar division.

Postal services and courier firm Royal Mail has also dropped 1.8 percent after reporting muted growth in revenues for the nine months ended December 24th.