European Stocks Mixed Amid Economic Data and Company Updates

European markets traded mixed as U.K. house prices rose 4.7% year-on-year, surpassing expectations. Investors await key PMI survey results indicating manufacturing sector performance.

Date: 02-01-2025

AI Rating: 6

Economic Indicators: The report highlights the year-on-year growth of U.K. house prices, which increased by 4.7% in December compared to the previous year's November growth of 3.7%. This is a stronger performance than the forecasted 3.8% growth. Such growth may reflect positively on the housing market and consumer confidence, potentially influencing sectors related to real estate and construction.

However, on a monthly basis, house price inflation softened to 0.7% from 1.2% in November, indicating a decrease in monthly momentum. This may imply a cautionary outlook for the immediate future in the housing market.

Market Performance: The pan-European STOXX 600 index declined by 0.1% after suffering its steepest quarterly decline in over two years. This slight dip suggests that investor sentiment is mixed, possibly influenced by recent economic updates and ongoing uncertainty in the market.

Company Performance: Positive developments were observed for specific companies. Vestas Wind Systems experienced a notable rise of 3.2% due to new supply orders in Europe that totaled over 1.2 GW of capacity, suggesting strong demand for renewable energy solutions.

Intrum AB saw significant gains, soaring by 13% after a U.S. court's approval of its restructuring plan, reflecting positive restructuring progress that could enhance operational efficiency and profitability.

Vodafone edged up slightly after divesting its Italian operations for €8 billion, which may contribute to a more streamlined operation and improved cash flow.

Stocks: LON:VOD LON:BP LON:GLEN LON:ANTO CPH:VWS STO:INTRUM