21.08.202507:29:34UTC+00European Stocks Trade Cautiously Lower

European stocks experienced a slight decline at the opening on Thursday, with both the Stoxx 50 and Stoxx 600 slipping by approximately 0.1%. Investors are closely monitoring significant central bank announcements, particularly from the upcoming U.S. Federal Reserve's Jackson Hole symposium. Here, Fed Chair Jerome Powell's remarks are anticipated to set the tone for future rate adjustments. Meanwhile, preliminary PMI data from the Eurozone and the UK are expected to deliver new economic insights. Major corporations reported varied performances: SAP decreased by 0.3%, LVMH by 1%, ASML by 0.3%, and Hermès by 0.5%, while Nestlé rose by 0.4% and L’Oréal declined by 1.2%. In the energy sector, oil giants Shell and TotalEnergies saw gains of about 0.5%, whereas banks such as Santander and UniCredit traded steady to slightly higher. Defense stocks recovered, rising 1% following previous declines linked to optimism for peace in Ukraine. In corporate developments, Aker BP surged by 3.1% following a significant oil find, whereas Danish biotech company Novonesis fell by 7.1% due to disappointing Q2 performance.