European Shares Mixed; FTSE 100 Dips As Pound Jumps On Upbeat GDP Data

(RTTNews) - European stocks were broadly higher on Thursday amid improving prospects for a peace settlement in Russia-Ukraine war.

U.K. stocks underperformed, with the FTSE 100 moving lower on the back of disappointing earnings updates, ex-dividend adjustments and a stronger pound on upbeat GDP data.

The U.K. economy expanded unexpectedly in the fourth quarter, underpinned by services and construction output, the Office for National Statistics said.

Gross domestic product grew 0.1 percent from the third quarter, confounding expectations for a contraction of 0.1 percent. This follows a nil growth in the third quarter.

On a yearly basis, the fourth quarter growth in GDP came in at 1.4 percent compared to 1.0 percent in the third quarter.

Elsewhere, Germany's consumer price inflation moderated as initially estimated at the start of the year, the latest data from the statistical office Destatis showed.

The consumer price index rose 2.3 percent year-on-year in January following a 2.6 percent increase in December, which was the highest inflation rate in eleven months. That was in line with the flash data published on January 31.

Inflation based on the harmonized index of consumer prices was unchanged at 2.8 percent in January, as estimated.

The pan-European STOXX 600 was up 0.2 percent at 548.93 after closing up 0.1 percent on Wednesday.

The German DAX climbed 0.8 percent and France's CAC 40 added 0.7 percent while the U.K.'s FTSE 100 fell 0.9 percent. French telecom operator Orange SA rallied 2.6 percent after meeting its targets for 2024.

Ray-Ban maker EssilorLuxottica rallied 3 percent after operating profit rose 9.4 percent last year.

British bank Barclays plunged 5 percent despite posting strong results for the year ending December 31, 2024 and launching a £1 billion share buyback.

British American Tobacco plummeted 8 percent after a mixed set of results.

German online takeaway food company Delivery Hero SE surged 6.4 percent after reporting Q4 growth above estimates.

Thyssenkrupp AG soared 10 percent. The German industrial conglomerate raised its outlook for free cash flow, citing 1 billion euros ($1.04 billion) in advance payments for a major submarine order from the German military.

Siemens AG surged 5.4 percent as the technology group reported better-than-expected Q1 results and confirmed FY 2025 guidance of organic growth.

Swiss food giant Nestle rose nearly 6 percent after sales growth exceeded expectations in the final quarter of last year.