European Stocks Mostly Higher Amid Nvidia Earnings and Economic Data Awaiting

European equities mostly rose on Thursday as investors digested Nvidia’s earnings and awaited eurozone consumer confidence data.

Indexes Performance (08:15 GMT)

• Germany DAX: +0.4%
• France CAC 40: +1.1% (rebounding from earlier political-driven losses)
• U.K. FTSE 100: -0.1%

Nvidia Earnings & China Impact

• Earnings: Stronger-than-expected for July quarter, with above-consensus guidance for current quarter.
• Data Centers Revenue: Missed estimates due to China restrictions, even after Washington allowed partial sales in late July.
• Outlook: Strong AI-driven chip demand expected to sustain earnings growth.
• Market Reaction: European semiconductor stocks mixed:
  • Lower: ASML, BE Semiconductor Industries
  • Higher: Infineon Technologies, ASM International

Other Corporate News

• Pernod Ricard: FY 2025 organic sales fell 3% (in line with forecasts), warns of potential lower Q1 revenues due to tariffs and declining U.S./China sales.
• Delivery Hero: Beat Q2 revenue expectations, driven by expansion in South Korea and other markets.
• Elekta: Q1 net income up 50% due to cost efficiency and cash flow improvements despite weaker sales.

Macro Outlook

• Eurozone Consumer Confidence: August data pending, influencing ECB’s September decision.
• ECB Policy: Expected to hold interest rates at 2%, signaling end of year-long cutting cycle.