The STOXX 50 index declined by 0.4%, while the STOXX 600 saw a decrease of 0.3% on Thursday, halting their two-day upward momentum. This downturn was driven by persistent uncertainties surrounding trade and fluctuating signals affecting market sentiment. U.S. Treasury Secretary Scott Bessent raised concerns over a prompt resolution to the ongoing trade conflict with China, emphasizing that President Trump has not proposed an unilateral removal of tariffs. Concurrently, China's Commerce Ministry called for the U.S. to demonstrate genuine willingness if it seeks to restart negotiations. Earlier in the week, there was a semblance of relief in the markets fueled by hopes for a de-escalation of tensions.
On the corporate earnings front, investors evaluated a new series of financial reports. Shares of Kering plummeted over 4% after the luxury group reported first-quarter sales that fell short of expectations and warned of continued challenges. BNP Paribas experienced a 2.7% decline, aligning with anticipated reductions in their first-quarter net profit. Conversely, Adidas saw an increase of approximately 1.8%, boosted by stronger-than-expected profits in Q1, and Unilever's shares rose by 0.9% following sales figures that exceeded forecasts.
