European stock markets opened to close to zero, Shell shares plummeted after disappointing earnings

In Paris, CAC 40 opened up 0.2 percent. In Frankfurt, the DAX opened for a 0.2 percent decline. In London, the FTSE 100 also opened up 0.2 per cent to frost.

Several major European companies said their earnings figures on Thursday. Shares in oil company Royal Dutch Shell opened three percent as the company‚Äôs performance fell short of expectations. Shell’s adjusted result was $ 4.13 billion, while the consensus forecast collected by news agency Bloomberg expected a result of $ 5.42 billion.

Adjusted operating profit for the automotive company Volkswagen was EUR 2.8 billion in the third quarter, while analysts expected a result of EUR 2.49 billion. The company expects the chip shortage to ease in the fourth half of the year.

Shares of Italian telecom operator Telecom Italia weighed down eight percent as the company lowered its earnings guidance.

Today, a lot of new economic data will emerge with the release of economic confidence figures for the euro area from October, among others, and the German unemployment rate. Economists expect unemployment to be 5.4 percent in October, up from 5.5 percent in September.

The European Central Bank is also announcing its policy rate decision today. The key interest rate is expected to remain in the 0-0.25% range.

Later in the afternoon, German inflation figures will also be heard.

Source: Arvopaperi by

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