European markets flat with Wall Street closed; AstraZeneca shares higher

European stocks traded around the flatline Thursday as investors paused for breath after a global rally in recent sessions.

The Europe Stoxx 600 index opened 0.2% higher before paring those gains. U.S. financial markets are closed Thursday due to the Thanksgiving holiday so trading volumes are likely to be low.

Looking at individual stocks, shares of insurer Aviva were trading 1.4% lower after the British insurer said that it expects to pay a total dividend for 2020 of 21 pence (28 cents) and is exploring options for divesting its remaining businesses in Asia and continental Europe in order to focus on Britain, Ireland and Canada.

Shares of soft drinks maker Britvic were up 1.9% despite the coronavirus pandemic hitting demand. It reported that adjusted earnings before interest and taxes (EBIT) fell to £165.8 million ($221.91 million) for the 12 months ended Sept. 30, from £214.1 million a year earlier, according to Reuters.

Shares of AstraZeneca were up 0.6% Thursday despite questions being raised over the way Astrazeneca and Oxford University tested their coronavirus vaccine, with the head of the White House’s vaccine task force voicing doubts about trial data and the drug’s efficacy rate.

Meanwhile, Remy Cointreau‘s shares were trading 1.3% lower after the French drinks maker reported a 23% fall in first-half operating profit. It forecast real recovery in the second half, driven by a rebound in demand from the U.S. and China.

More broadly, global stocks have pulled back from their rally earlier this week. The Dow Jones Industrial Average fell on Wednesday, taking a breath after breaking above 30,000 points Tuesday, while traders pored over disappointing unemployment data.

The U.S. Labor Department said that 778,000 people filed for unemployment benefits for the first time last week. Economists polled by Dow Jones expected initial jobless claims to come in at 733,000.

Subscribe to CNBC PRO to access live PRO Talks, including our Dec. 2 discussion on opportunities and risks in international markets. 

-CNBC’s Fred Imbert and Eustance Huang contributed to this market report.

Source link

Add a Comment