Earnings drive mixed index performance
SPY•European indexes were mostly higher, with the STOXX 600 up 0.4%, while Spain’s IBEX fell 1% as BBVA dropped about 5%. U.S. futures were lower as Alphabet shares fell 10% in premarket trading after disappointing results.
1. European markets diverge
Major European stock indexes were mostly higher on Thursday, with the STOXX 600 up 0.4% and almost 70% of its companies advancing. Paris, London and Frankfurt indexes gained between 0.5% and 0.8%, while Madrid’s IBEX fell 1%, weighed by Spanish banks.
2. Earnings move shares
BBVA fell about 5% after Jefferies described its results as a “mixed bag,” citing performance in Mexico as in line and weakness in Spain. Haleon dropped 12% and Campari fell 5.5%, while Aixtron gained 6% after a jump in revenue and Renault rose 5% on stronger-than-forecast revenue growth.
3. U.S. futures lower
U.S. stock futures were lower, weighed on by Alphabet, whose shares fell 10% in premarket trading after disappointing results.
