European Shares Mostly Lower After Wednesday's Strong Rally

(RTTNews) - European stocks were broadly lower on Thursday after posting strong gains in the previous session on AI-driven optimism and hopes for a quick end to the Middle East conflict.

The downside was capped after data showed German factory orders grew at a faster pace in March.

Factory orders increased 5.0 percent in March compared to February's revised growth of 1.4 percent as manufacturers rushed to secure raw materials ahead of potential future price increases and supply shortages, Destatis reported.

The monthly increase significantly outpaced the 1.0 percent forecast and also marked the fastest growth in three months. Excluding large orders, new orders were 5.1 percent higher than in the previous month.

The pan-European STOXX 600 was down 0.2 percent at 622.12 after rallying 2.2 percent on Wednesday.

The German DAX slipped 0.1 percent, France's CAC 40 was marginally higher and the U.K.'s FTSE 100 fell 0.7 percent.

Coca-Cola HBC shares tumbled 3.3 percent as the soft drink bottler reported Q1 organic revenue growth below forecasts.

Retailer JD Sports Fashion soared 5 percent as it reported full-year sales and profits roughly in line with expectations.

Shell shares declined 2 percent. The oil giant trimmed its quarterly share buyback from $3.5?billion to $3?billion.

InterContinental Hotels rallied 2.8 percent after reporting higher revenue in the first quarter.

Aerospace and defense group BAE Systems tumbled 3.4 percent despite affirming its sales and underlying EPS guidance for 2026.

German consumer goods and adhesives maker Henkel jumped 4.3 percent after reporting first-quarter sales growth above expectations.

Rheinmetall fell 2.8 percent. The defense group announced that it has submitted a non-binding offer to acquire German Naval Yards Kiel.

Medical technology company Siemens Healthineers slumped 4.7 percent after cutting its full-year outlook for revenue growth.

Global transport firm A.P. Møller - Mærsk fell 4.3 percent as first-quarter profit declined on the back of lower rates.

French utility Engie dropped 2.2 percent on reporting lower first-quarter earnings.

Conglomerate Bouygues lost 2 percent. The company announced that it doesn't plan to sell assets to fund its joint 20.35-billion-euro cash bid for rival operator SFR.