European stocks were trading lower Thursday for the third time in four days, as uncertainty over the Russian invasion of Ukraine continued.
The Stoxx Europe 600 XX:SXXP fell 0.4% to 444.36. Of the major regional indexes, the German DAX DX:DAX declined 0.9% and the French CAC 40 FR:PX1 declined 0.8% while the U.K. FTSE 100 UK:UKX increased 0.1%, as metals producers including Glencore UK:GLEN and Anglo American UK:AAL advanced.The Stoxx Europe 600 SXXP fell 0.4% to 444.36. Of the major regional indexes, the German DAX DAX declined 0.9% and the French CAC 40 PX1 declined 0.8% while the U.K. FTSE 100 UKX increased 0.
A new round of talks between Russia and Ukraine looked likely even as Russia’s foreign minister said the country would continue to attack what he called Ukraine’s military infrastructure. Two credit agencies downgraded Russia’s sovereign debt to junk, as two index providers, MSCI and FTSE Russell, said they would remove Russian securities from their indexes.
Tire maker Nokian TYRES continued to drop, losing 6%, as it tries to move production out of Russia. French auto parts maker Faurecia EO also dropped 6%.ITV ITV shares dropped 18% as the U.K.’s largest commercial television broadcaster said it would invest £1.2 billion in content this year followed by £1.35 billion in 2023.
The London Stock Exchange LSEG rallied 8% after reporting stronger-than-forecast earnings before interest, tax, depreciation and amortization. The LSE also suspended trading in several Russian companies that had secondary listings in London, including EN+, Gazprom and Rosneft Oil.
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