European stock markets swung between small gains and losses on Thursday, with the benchmark index struggling to extend a five-year high after weak euro-zone industrial production.
Data released showed year-over-year Eurozone Industrial Production w.d.a. declined by 2.1% in July, down from the 0.4% decrease registered the previous month. Analysts expected much less fall of 0.1%. On a monthly basis Industrial Production s.a. fell 1.5% in July, following a 0.6% increase in June and against forecasts of growing 0.1%.
The Stoxx Europe 600 index was marginally higher at 311.01, after closing at the highest level since June 2008 on Wednesday.
Among country-specific indexes, the U.K.’s FTSE 100 index retreated 0.31%, while Germany’s DAX 30 index weakened 0.24% and France’s CAC 40 index fell 0.52%.
Shares of Wm. Morrison Supermarkets PLC jumped 5% after the supermarket chain said it expects sales to improve in the second half and full-year performance to be in line with its previous expectations.
Shares of Vivendi SA picked up 2.6% after the French media and telecom group said late Wednesday it is looking into plans to split into two separate companies.
On a more downbeat note, shares of RWE AG lost 2.2% after Citigroup cut the utility firm to sell from neutral.
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