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European markets are expected to open higher Thursday as investors monitor earnings reports from a raft of major European companies.
The U.K.'s FTSE 100 index is expected to open 10 points higher at 8,696, Germany's DAX up 49 points at 22,475, France's CAC up 16 points at 8,118 and Italy's FTSE MIB 32 points higher at 38,437, according to data from IG.
Earnings are due from Accor, Schneider Electric, Mercedes, Zurich Insurance, Lloyds Banking Group, Centrica, Airbus, Hays, Anglo American, Renault, Repsol, Leonardo and Aegon. There are no major data releases Thursday.
U.S. President Donald Trump's proposed tariffs on autos, chips and pharmaceutical imports, and the possibility that the Federal Reserve keeps interest rates higher for longer, are also a focus for global markets on Thursday.
Trump, who said the duties could be implemented as soon as April 2, did not specify whether they will be targeted at imports from certain countries or be broad-based.
Meanwhile, Fed officials in January agreed they would need to see inflation come down more before lowering interest rates further, according to meeting minutes released Wednesday. Asia-Pacific markets and S&P 500 futures were lower overnight.
Airbus profits fall as planemaker raises delivery target despite supply challenges
Balint Porneczi | Bloomberg | Getty Images
Airbus on Thursday reported an 8% year-on-year drop in adjusted operating profit to 5.35 billion euros ($5.58 billion) despite a 6% jump in revenue.
The annual figure was slightly below the 5.43 billion expected by analysts in an LSEG-compiled consensus, though the company's fourth-quarter revenue and profit were just above consensus in a company-compiled poll.
The Toulouse, France-based planemaker also announced a closely watched target of 820 deliveries for 2025, above the 766 jets it delivered in 2024. Last year, it was forced to trim its target of "near 800" deliveries in June, as supply chain snarls continued to plague the commercial aircraft sector.
On Thursday, it said supply challenges were challenging the ramp-up of production of its A350 and A220 models, and it pushed back the launch of its A350 freighter variant by around a year to the second half of 2027.
Profit at its defense and space unit swung to a loss of 656 million euros for the full year.
— Jenni Reid
Schneider Electric posts record sales and profit figures, beating expectations
Schneider Electric reported record sales and profits, beating market expectations and its own targets.
The French industrial giant said its net profit for 2024 rose to 4.27 billion euros ($4.45 billion) from 4 billion euros in the prior year, beating analyst expectations of 4.2 billion euros, according to FactSet.
Sales rose 6.3% to 38.15 billion euros, beating market expectations of 37.6 billion euros.
Looking ahead, the company said it expects adjusted organic growth between 10% and 15%, driven partly by sales revenue as well as margin improvement.
Schneider Electric has been a big beneficiary of the artificial intelligence trend as investors have rushed into the stock. It's French listing rose by 39% in 2023, followed by 33% in 2024.
— Ganesh Rao
China keeps benchmark lending rates steady as PBOC prioritizes financial stability
China kept its key lending rates unchanged Thursday, as Beijing prioritizes financial stability over interest rate easing to bolster the economy.
The People's Bank of China held the 1-year loan prime rate unchanged at 3.1%, and the 5-year LPR at 3.6%
The benchmark lending rates — normally charged to banks' best clients — are calculated monthly based on designated commercial banks' proposed rates submitted to the PBOC. The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates.
The decision on Thursday was in line with expectations Reuters poll estimates.
Read the full story here.
— Anniek Bao
Trump says he's considering giving 20% of DOGE savings to Americans
U.S. President Donald Trump said during his remarks at the FII Priority Summit in Miami Beach, Fla., on Wednesday that he's thinking of sending 20% of the money saved by the Department of Government Efficiency (DOGE) to Americans.
"There's even under consideration a new concept where we give 20% of the DOGE savings to American citizens and 20% goes to paying down debt," Trump said during his speech at the event.
The president's comments come just a day after Elon Musk said in a post on X that he "Will check with the President" on a proposal to send U.S. households tax refund checks from the money saved by DOGE.
— Sean Conlon
S&P 500 notches another record close
The S&P 500 earned another record-high close on Wednesday as investors shook off worry tied to inflation and U.S. trade policy.
The broad market index added 0.24% to close at 6,144.15, while the Nasdaq Composite gained 0.07% to 20,056.25. The Dow Jones Industrial Average advanced 71 points, or 0.16%, to finish the session at 44,627.59.
— Brian Evans
European markets: Here are the opening calls
European markets are expected to open higher Thursday.
The U.K.'s FTSE 100 index is expected to open 10 points higher at 8,696, Germany's DAX up 49 points at 22,475, France's CAC up 16 points at 8,118 and Italy's FTSE MIB 32 points higher at 38,437, according to data from IG.
Earnings are set to come from Accor, Schneider Electric, Mercedes, Zurich Insurance, Lloyds Banking Group, Centrica, Airbus, Hays, Anglo American, Renault, Repsol, Leonardo and Aegon. There are no major data releases Thursday.
— Holly Ellyatt
English (US)