European Stocks Mixed in Thursday Trading; Eurozone Faces 'Deepening Economic Woes'

11:54 AM EDT, 04/23/2026 (MT Newswires) -- European stock markets were mixed Thursday as the eurozone private sector ended a 15-month growth streak and fell into contraction in April, according to the provisional Purchasing Managers' Index, which dropped to 48.6 from 50.7 in March.

"The eurozone is facing deepening economic woes from the war in the Middle East, presenting a major headache for policymakers," Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement. "The conflict has pushed the economy into decline in April, while driving inflation sharply higher."

The Stoxx Europe was up 0.13%, Germany's DAX was off 0.06%, the FTSE 100 was also down 0.08%, France's CAC climbed 1%, and the Swiss Market Index advanced 1.38%.

In corporate news, Novo Nordisk said Thursday a phase 3a trial of oral semaglutide in children and adolescents aged between 10 and 17 years with type-2 diabetes showed a "superior reduction" in a measure of blood sugar control over placebo.

Results also showed a "well-tolerated" safety profile, consistent with prior semaglutide trials, the Danish drugmaker said. Oral semaglutide is available as Rybelsus in the European Union and the US, and will be available in the US as Ozempic pill "soon," Novo Nordisk said.

Shares of the Danish pharmaceutical company were moving close to 1% lower in Copenhagen.

Banco Santander will temporarily suspend its share buyback program pending approval from US lender Webster Financial's shareholders of a proposed takeover by the Spanish bank, it said Thursday.

The suspension will run from Friday through May 26 inclusive, the date of Webster's shareholder meeting, the company said in a regulatory filing. Following the program's resumption, its indicative duration is now expected to run through Aug. 20, Banco Santander said.

Shares of the Spanish bank were falling nearly 2% in Madrid.

Sanofi reported Q1 adjusted earnings Thursday of 1.88 euros ($2.20) per share, up from 1.79 euros a year earlier.

Analysts polled by FactSet expected 1.8 euros.

Net sales for the quarter ended March 31 were $10.51 billion, compared with $9.90 billion a year earlier. Analysts surveyed by FactSet expected 10.72 billion euros.

For 2026, the company reiterated its sales guidance of high single-digit percentage growth. Analysts surveyed by FactSet expect 48.55 billion euros.

Shares of the French pharmaceutical company were rising 1% in Paris.

STMicroelectronics reported Thursday Q1 non-GAAP earnings of $0.13 per diluted share, up from $0.07 per share a year earlier.

Analysts polled by FactSet expected $0.18 per share.

Revenue for the quarter ended Mach 28 was $3.10 billion, up from $2.52 billion a year earlier. Analysts polled by FactSet expected $3.04 billion.

The company said it expects Q2 revenue of $3.45 billion. Analysts polled by FactSet expect $3.16 billion.

Shares of STMicroelectronics were up 1.1% in Paris.

Stellantis' total passenger vehicle registration rose 8.5% in Q1, according to the European Automobile Manufacturers' Association.

European Union consumers registered almost 547,000 new battery-electric vehicles during Q1, representing more than 19% of the region's market, while hybrid models represented 38.6%, and traditional gasoline and diesel automobiles dropped to 30.3%, it added.

Shares of Stellantis were down 1.3% in Paris.

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