European shares began trading on a subdued note on Thursday as investors resumed activity after a mid-week holiday, focusing on a series of significant earnings reports and the Federal Reserve’s indication of a postponement in interest rate adjustments.
The pan-European STOXX 600 was down 0.2% by 0715 GMT, following its first monthly decline this year in April.
Investors returned after the Labour Day holiday on Wednesday, a day marked by the Fed’s announcement that it would keep interest rates high for an extended period due to recent disappointing inflation data.
Energy stocks fell 1.7%, with Vestas experiencing a 4.2% decline after the world’s largest wind turbine manufacturer reported an unexpected loss in the first quarter.
However, the stock dropped 2.4% after relinquishing early gains. ING Groep in the Netherlands surged 5.4% following a 2.5 billion euro ($2.68 billion) share buyback and strong first-quarter performance.
Standard Chartered in Britain rose 5% after beating profit expectations in the first quarter, propelling the bank index to lead the sectoral gainers’ list.
Teleperformance, a French office services and call center company, skyrocketed 15.4% on the back of higher first-quarter sales.
