Elsewhere, Hennes & Mauritz stock fell 0.5% after the fashion retailer said it will reopen most of its stores in Ukraine, beginning in November of this year.
Norwegian Air stock slumped 7% after reporting a sharp drop in net profit from a year ago, although last year's figure had been boosted by one-off factors. The low-cost carrier also said it had begun a process that could lead to cash dividend payments for shareholders.European Central Bank will pause hiking interest rates in September, as weak business activity data pointed to deepening economic pain in Europe.
German business activity contracted at the fastest pace in over three years in August, while Britain's business activity contracted unexpectedly, raising"The risk that the ECB has already overtightened is significant. [Today’s] PMI release reduces the chances of a September rate hike and increases the chance that rate cuts will come earlier than most Governing Council members thought," said economists at Citigroup, in a note.
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