Europe close: Stocks end mixed as ECB stands pat
By Alexander Bueso
Date: Thursday 24 Jul 2025
(Sharecast News) - European stocks were mostly higher on Thursday but ended the day off their best levels.
Investor sentiment however remained supported by rising trade deal optimism heading into the US administration 1 August deadline for higher trade tariffs with the euro area to kick in.
The Stoxx 600 was up 0.24% at 551.55, although the main regional bourses put in a mixed performance.
Spain's Ibex 35 rallied 1.34% to 14,256.50, but France's Cac-40 ended down by 0.41% to 7,818.28.
The FTSE 100 was up nearly 1%, for its fourth straight record close.
The European Central Bank kept rates on hold, for the first time in over a year and after eight consecutive reductions.
ECB boss Christine Lagarde said that rates were in a "good" place when it came to meeting the monetary authority's 2.0% inflation target.
However, the environment was "exceptionally uncertain".
Economic data disappoints
Investors were having to contend with raft of economic data from the continent early on, including the flash readings of eurozone purchasing managers' indices (PMIs) for July which came in mixed.
The overall eurozone composite PMI rose to 51 from 50.6 in June, though the German composite PMI unexpectedly weakened and the French composite PMI remained below the neutral 50-point level for the 11th straight month (albeit showed an improvement over the month).
Meanwhile, German consumer confidence unexpectedly fell to a four-month low. The forward-looking GfK consumer climate indicator fell to -21.5 in August from -20.3 the previous month, missing the -19.2 consensus forecast.
London's blue chips impress, Deutsche Bank jumps
A host of London-listed heavyweights impressed investors in morning trade with their half-year updates, with joinery group Howden, broadcaster ITV, consumer products maker Reckitt Benckiser and telecommunications giant BT all jumping 9% or more.
Elsewhere, Finnish oilfield services group Neste was a high riser, jumping 15% after topping analysts' forecasts with second-quarter profits, helped by strong demand in its sustainable aviation fuel operations.
Lastly, shares in Deutsche Bank surged 8% after the German bank beat forecasts with its second-quarter results, driven by a strong performance in investment banking and lower costs.
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