Both the STOXX 50 and STOXX 600 rose 0.3% on Thursday (July 31st), as corporate earnings remained in focus. Shell shares rose 2.9% after reporting a profit decline that still beat expectations, while Unilever rose 0.2% on stronger-than-expected sales.
Upbeat earnings from Microsoft and MetaTrader also supported sentiment, lifting SAP (+1.8%) and ASML Holding (+1.4%). Meanwhile, Sanofi shares fell 2.2% after its earnings missed, and AB InBev shares plunged nearly 10% after the world's largest brewer reported declining volumes, particularly in Brazil and China. Credit Agricole fell 1.7% as its performance disappointed investors, while BMW fell 0.5% on lower revenue.
Meanwhile, the Fed kept interest rates steady as expected, but hawkish remarks from Chairman Powell dampened expectations of a September rate cut. On the trade front, President Trump announced a 25% tariff on Indian imports and an exemption for the most commonly traded copper from the planned 50% tariff. (alg)
Source: Trading Economics
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