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STOXX 600 flat
Feb 7 (Reuters) – European shares were subdued on Tuesday as prospects of the global interest rate-hiking cycle lasting for longer continued to sap sentiment, while oil major BP led energy stocks higher.
The pan-European STOXX 600 .STOXX was flat at 0815 GMT, after logging its steepest single-day fall in three weeks on Monday on rate hike jitters.
The energy index .SXEP gained 1.5% and was the top performer among sector indexes, with BP BP.L gaining 3.4% after posting a record profit of $27.6 billion in 2022 and boosting its dividend by 10%.
Meanwhile, Airbus SE AIR.PA fell 1.6% and led losses among industrial stocks .SXNP after Berenberg downgraded the aerospace and defence company’s stock to “sell”.
Nordic Semiconductor ASA NOD.OL slid 17.5% and was the top decliner on STOXX 600 after missing fourth-quarter earnings estimates, followed by a 15% slump in ams OSRAM AMS.S after the sensor maker reported weak first-quarter outlook and suspended its 2022 cash dividend.
Siemens Energy ENR1n.DE fell 1% after its first-quarter more than doubled, while euro zone’s largest lender BNP Paribas BNPP.PA also dropped 1% after posting a lower-than-expected fourth-quarter net profit.
Demant DEMANT.CO gained 9.1% after the hearing aid maker’s operating profits for the second-half of 2022 topped expectations and the company said it expects 2023 organic growth between 3% and 7%.
(Reporting by Ankika Biswas in Bengaluru; Editing by Saumyadeb Chakrabarty)
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