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European stocks inch higher amid subdued market sentiment
Thursday, 21 November 2024 23:25 WIB | MARKET UPDATE |EUROPE

European stocks inched higher Thursday afternoon as investors focused on earnings and economic data amid weak global market sentiment.

The pan-European Stoxx 600 was up 0.08% by 3:30 p.m. London time, as sectors and major bourses diverged. Insurance stocks led gains, up 1.07%, while retail dipped 0.37%.

Shares of British sports retailer JD Sports fell more than 16% after it warned that its annual profits would come in at the lower end of its guidance following a difficult October and subdued consumer spending.

Market sentiment was knocked overnight as investors parsed the all-important earnings release from artificial intelligence darling Nvidia amid lofty expectations of the company.

Shares of the chipmaker slumped in pre-market trading, and were choppy after the market open.

While the chipmaker reported a 94% year-on-year surge in revenue for the third quarter to $35.08 billion, it was still a consecutive slowdown from the previous three quarters, when sales rose 122%, 262%, and 265%, respectively. Despite exceeding expectations for the third quarter and providing strong guidance, shares of Nvidia slid nearly 2% in extended trading.

Asia-Pacific markets mostly fell overnight, while U.S. stocks seesawed in morning deals.(Cay) Newsmaker.id

Source: CNBC

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