12:00 PM EST, 12/05/2024 (MT Newswires) -- The European stock markets closed higher in Thursday trading as The Stoxx Europe rose 0.43%, Germany's DAX gained 0.67%, the FTSE in London was up 0.16%, France's CAC increased 0.37%, and the Swiss Market Index nudged 0.06% higher.

The construction sector in the Eurozone continues to contract as the HCOB Eurozone Construction PMI Total Activity Index, which tracks monthly changes in total industry activity, declined to 42.7 in November from 43.0 in October. New orders fell at their fastest rate since September 2023.

In the UK, the construction sector continues to expand as the headline S&P Global UK Construction Purchasing Managers' Index rose to 55.2 in November from 54.3 in October. It is the ninth straight month the index registered above the 50-point threshold separating expansion from contraction.

The seasonally adjusted retail trade volume declined 0.5% in the euro area and 0.3% in the European Union in October compared with September, according to first estimates from Eurostat, the statistical office of the EU. Compared with a year earlier, the calendar adjusted retail sales index rose 1.9% in the euro area and 2.1% in the EU.

In Germany, price-adjusted incoming manufacturing orders were down 1.5% in October from the previous month, according to preliminary data from Germany's Federal Statistical Office.

And in corporate news, the UK's Competition and Markets Authority said Thursday that Vodafone's proposed merger with Three can proceed provided both companies sign binding commitments "to invest billions" to deploy a nationwide 5G network over the next eight years.

British oil and gas giant Shell and Norwegian petroleum refiner Equinor said Thursday that their UK subsidiaries are combining their UK offshore oil and gas assets and operations to form a new independent joint venture for domestic oil and gas production in the country's North Sea. Financial terms weren't disclosed.

HSBC said Thursday that it has named Lisa McGeough chief executive officer of its US division.

And analysts at RBC Capital Markets upgraded their rating Thursday on French energy company TotalEnergies' stock to outperform from sector perform with a price target of 80 euros ($84.56).

http://www.mtnewswires.com
Copyright © 2024 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.