01:06 PM EDT, 10/29/2026 (MT Newswires) -- European stock markets closed higher in Thursday trading with the Stoxx 600 rising 0.8%, Germany's DAX gaining 1.4%, the UK's FTSE 100 increasing 0.3%, France's CAC 40 up 1.1%, and the Swiss Market Index adding 1.2%.

In economic news, the European Central Bank said Thursday it has decided to leave its three key interest rates unchanged. The ECB said "energy prices have continued to rise, posing upside risks to the inflation outlook and downside risks to the growth outlook."

Separately, ECB President Christine Lagarde will step down from her role on Feb. 7, 2027, European Council President Antonio Costa said Thursday. Costa said the process for the appointment of Lagarde's successor started Thursday.

The European Economic Sentiment Indicator fell to 96.9 in October from 97.5 in September, in both the eurozone and the broader EU, the European Commission reported.

In corporate news, A UBS relocation abroad is being analyzed by the Swiss government to see how the bank would fare if it attempted to escape the country's new, stringent capital rules, Reuters reported Thursday, citing an internal assessment that it viewed. The assessment explored how UBS would fare under the US and British legal systems, and it identified significant capital costs in both that could match what it faces in Switzerland, the report said, citing the assessment. UBS shares rose 3.2% in Switzerland.

HSBC is in preliminary talks with insurers about offloading credit risk on data center loans, Bloomberg reported Thursday, citing people familiar with the matter. The discussions concern a series of project finance deals, some tied to AI infrastructure, and follow an earlier assessment of insurers' appetite to cover a portfolio exclusively focused on data centers, according to the report. HSBC shares were down 0.3% in London.

Shell reported fiscal Q3 adjusted net income Thursday of $1.93 per diluted share, up from $0.93 a year earlier. Analysts polled by FactSet expected $1.77. Revenue for the quarter ended Sept. 30 was $92.85 billion, up from $68.15 billion a year earlier. Analysts expected $97.03 billion. The oil and gas giant also announced a $5 billion share buyback program for the next three months. Shell shares rose 2.2% in Amsterdam.

TotalEnergies reported Q3 adjusted earnings Thursday of $4.03 per diluted share, up from $1.77 a year earlier. Analysts polled by FactSet expected $3.69. Revenue for the quarter ended Sept. 30 was $61.86 billion, compared with $43.84 billion a year earlier. Analysts surveyed by FactSet expected $55.39 billion. The company said its board has approved $2.50 billion in share buybacks for Q4 and Q1 2027. TotalEnergies shares added 1.2% in Paris.

Rio Tinto opened two lithium projects in Argentina with a combined investment of $1.4 billion as the miner expands its operations in the region, the company said Wednesday. The operations, located in Catamarca province, are expected to add 25,000 tonnes of annual lithium carbonate equivalent capacity once fully ramped up, bringing total annual capacity to 40,000 tonnes, the company said. Rio shares fell 2.9% in London.

Haleon reported Q3 revenue Thursday of 2.87 billion British pounds ($3.82 billion), up from 2.8 billion pounds a year earlier. Three analysts polled by FactSet expected 2.93 billion pounds. For 2026, the company now expects organic revenue growth of around 2.5%, compared with its prior outlook range of 3% to 5%. Haleon shares fell past 15% in London.

Deutsche Telekom has stepped back from its plan to merge with T-Mobile US amid opposition from its works council, which represents employees' interests, Bloomberg reported. Bloomberg said labor representatives constitute half of a German company's supervisory board, playing an important role in company decisions.

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