European markets were slightly lower Thursday morning, as positive momentum slipped on a busy week of earnings.
The Stoxx 600 index was down 0.16% at 10:30 a.m. London time following four positive sessions. Sectors were a mixed bag, with autos falling 1.3% as oil and gas stocks nudging 0.5% higher.
Shares of Spanish bank Sabadell rose 3% after rival BBVA made a hostile takeover offer to its shareholders, valuing the business at roughly 12 billion euros ($12.9 billion). Sabadell’s board rejected an unsolicited all-share merger offer earlier this week.
Ferrovial, Telefonica, EDP, Enel, Pirelli and Salvatore Ferragamo all reported today.
Elsewhere, the Bank of England is set to publish its latest interest rate decision Thursday. Although it’s unlikely to cut rates this month, investors will be looking out for any signals of a change in position from the central bank’s policymakers.
China stocks rose overnight as its imports surged past estimates and exports rose in line with expectations, while the broader Asia-Pacific market was mixed.
Meanwhile, futures linked to the Dow Jones Industrial Average hovered near the flatline after the 30-stock index posted its sixth consecutive winning day.
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