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Stock impact report

European shares muted ahead of economic data; H&M shines [Yahoo! Finance]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
March 27 (Reuters) - European stocks opened flat on Wednesday after closing at record high in the previous session, as investors awaited more economic data due this week, while H&M shares jumped on upbeat quarterly results. The pan-European STOXX 600 was steady at 511.07, as of 0816 GMT, hovering near a record high hit on Tuesday. Oil and gas shares were the biggest drag on the index, down 0.7% fall, mirroring weak oil prices on rising U.S. crude inventories. Oil giants Shell and BP were down 0.8% and 1%, respectively. Swedish software firm Fortnox also weighed on the index, dropping 9.6%. Outweighing the losses, H&M topped gains, with a 12% jump, after the world's second-largest listed fashion retailer beat its first-quarter operating profit estimates. Recent dovish signals from major central banks and a rally in technology stocks buoyed by the artificial intelligence fervour spurred STOXX 600 to record highs. It is eyeing a second straight quarterly gain, up 6.7% so far Show less Read more
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