European Stocks Close Broadly Lower Ahead Of Crucial Economic Data

European stocks ended mixed on Wednesday with investors reacting to quarterly earnings updates and making largely cautious moves ahead of key U.S., eurozone and Chinese economic data due this week.

Monthly survey data from the European Commission showed Eurozone economic confidence weakened unexpectedly in February.

The economic sentiment index fell to 95.4 from 96.1 in the previous month. The score was forecast to rise to 96.7. At -9.5, the industrial confidence indicator hit the lowest in six months. Similarly, the services sentiment index dropped to 6.0 from 8.4 a month ago.

By contrast, the consumer confidence index improved to -15.5, as initially estimated, from -16.1 in January.

The pan European Stoxx 600 ended down 0.35%. The U.K.’s FTSE 100 dropped 0.76%, while Germany’s DAX and France’s CAC 40 ended higher by 0.25% and 0.08%, respectively. Switzerland’s SMI ended down 0.23%.

Among other markets in Europe, Austria, Denmark, Greece, Iceland, Netherlands, Poland, Portugal, Spain and Turkiye closed weak.

Ireland, Norway, Russia and Sweden ended higher, while Belgium and Finland closed flat.

In the UK market, Rolls-Royce Holdings advanced more than 3%. JD Sports Fashion gained about 2.5%. Smurfit Kappa Group, Beazley, Barclays, Kingfisher, 3i, B&M European Value Retail, Melrose Indutries, HSBC Holdings, Natwest Group and Centrica gained 1 to 2%.

St James’s Place tanked more than 21%. The stock fell after the company reported an annual loss primarily due to setting aside 426 million pounds for potential client refunds related to ongoing complaints.

Reckitt Benckiser plunged 12% after fourth quarter like-for-like net sales came in below expectations.

Smith & Nephew ended down 6%, while Taylor Wimpey, Halma, Croda International, Anglo American Plc, Burberry Group, Unite Group, Hikma Pharmaceuticals, Fresnillo, RS Group and BT lost 2 to 5%.

In the German market, Puma surged nearly 5%. MTU Aero Engines climbed about 2.5%. Siemens, HeidelbergCement, Volkswagen,…