European Stocks Poised for Mixed Open

European equity markets were set for a mixed open on Thursday as investors remained cautious ahead of key economic releases and a major central bank policy decision. Market participants will monitor preliminary second-quarter GDP figures, July inflation data, and June unemployment rates from across the region for fresh insights into Europe’s economic outlook. Meanwhile, the Bank of England is widely expected to leave interest rates unchanged while maintaining a cautious approach to inflation. On the corporate front, investors will also digest earnings reports from Schneider Electric, British American Tobacco, Telecom Italia, Sanofi, and Enel, among others. In premarket trading, Euro Stoxx 50 futures gained 0.15%, while Stoxx 600 futures slipped 0.1%.

The Euro STOXX 50 closed 0.5% lower on Wednesday and STOXX Europe fell 0.2%, pressured by a surge in energy prices from reignited strikes in the Middle East and mixed corporate earnings. Among notable movers, Hermes tumbled 11% despite reporting an acceleration in sales, with investors citing the lack of a convincing recovery in the key Chinese market. CaixaBank dropped 7%, dragging other Spanish lenders lower after leaving its full-year guidance unchanged alongside its Q2 results. ASM International lost 5% despite issuing an upbeat outlook, as concerns over global AI spending persisted, while Aberdeen fell 5% after reporting larger-than-expected first-half fund outflows. Elsewhere, Kering surged 12% after stronger-than-expected Gucci sales, Sopra Steria jumped 13% on raised guidance, Glencore gained 3% on higher copper output. Among major banks, Deutsche Bank and UBS both gained after posting their results, aligned with other lenders that reported earlier.

The STOXX 50 fell 0.5% on Wednesday, while the broader STOXX 600 edged 0.1% lower, as investors assessed a fresh batch of corporate earnings ahead of the Federal Reserve's policy decision later in the day, while renewed Middle East tensions weighed on sentiment. Among notable movers, Hermes tumbled more than 12% despite reporting an acceleration in sales, with investors citing the lack of a convincing recovery in the key Chinese market. CaixaBank dropped over 6%, dragging other Spanish lenders lower after leaving its full-year guidance unchanged alongside its Q2 results. ASM International lost 5% despite issuing an upbeat outlook, as concerns over global AI spending persisted, while Aberdeen fell 5% after reporting larger-than-expected first-half fund outflows. Elsewhere, Kering surged 12% after stronger-than-expected Gucci sales, Sopra Steria jumped 13% on raised guidance, Glencore gained 3% on higher copper output, and UBS and Deutsche Bank advanced following solid earnings.