[MARKET ANALYSIS] European bourses trade lower though the FTSE 100 slightly outperforms

European bourses are trading largely on the backfoot, though the FTSE 100 (+0.2%) is the slight outperformer, though off best levels since the open. Elevated crude prices have underpinned sentiment for heavy weighted energy Co. 's like BP (+1.6%) and Shell (+0.8%) in the index. Additionally firmer retail sales data this morning has added to broader sentiment in the UK market.
European sectors are trading mostly in the red. Leading sectors are Telecommunications (+1.1%), Energy (+1.2%) and Healthcare (+0.4%). Telecommunication has been given a boost by Ericsson (+8.3%) after the Co. reported strong Q4 earnings, whilst stronger crude prices has underpinned the Energy sector. On the flip side, Construction (-0.9%), Travel (-1.0%) and Financial Services (-0.5%) lag - no fresh newsflow driving the move.
Movers this morning include Maersk (-2.9%) with the Co.’s shares sliding following a broker downgrade. Also on the downside is BASF (-0.9%) after the Co. reported below expected revenue for FY25. On the upside, Haleon (+0.7%) has gained following a broker upgrade, adding to the optimism in the Healthcare sector.
US equity futures are mixed to lower in the premarket. The RTY and ES are flat whilst the NQ (-0.2%) and YM (-0.1%) are marginally lower. Looking ahead, highlights include US S&P Flash PMI and UoM consumer expectation.