European Equities Finish Mixed On Earnings, Geopolitical Factors

(RTTNews) - European stocks failed to hold early gains and ended on a mixed note on Thursday as investors reacted to earnings announcements and regional economic data in addition to assessing the Middle East situation.

Despite reports about Iran and Oman moving closer to striking an agreement to once again reopen the Strait of Hormuz, oil prices moved up sharply amid reports of attacks on Saudi tankers in the Red Sea and Gulf of Aden.

The pan European Stoxx 600 ended higher by 0.16%. The UK's FTSE 100 dropped 0.19%, Germany's DAX edged up 0.05% and France's CAC 40 climbed 0.35%, while Switzerland's SMI finished lower by 0.23%.

Among other markets in Europe, Austria, Czech Republic, Denmark, Finland, Ireland, Netherlands, Norway, Poland, Portugal, Spain and Türkiye closed higher.

In the UK market, WPP shares skyrocketed 29% after the world's largest advertising group posted better-than-expected first-half profits and margins.

Diageo climbed 5.6% after the company announced a plan to save $1 billion over three years after operating profit fell 27.2% in the first half.

Persimmon moved up nearly 3%. The company said it expects annual home deliveries to be at the top of its prior forecast range.

Admiral Group jumped 5.3%. Vodafone Group rallied 4.3% and Metlen Energy & Metals gained nearly 3.5%. Outsourcing firm Serco soared nearly 7% after reporting higher first-half underlying profit and increasing the size of its share buyback program.