(Reuters) – European shares opened on a somber note on Thursday as investors returned from the midweek holiday to sift through a slew of big gains and the Federal Reserve signaled a delay in interest rate cuts.
By 0715 GMT, the pan-European index was down 0.2% after recording its first monthly decline this year in April.
Investors returned from the Labor Day holiday on Wednesday, when the Fed’s signal remained high for a long time due to recent disappointing inflation figures.
Energy shares fell 1.7% and Vestas fell 4.2% after the world’s largest wind turbine maker reported a surprise first-quarter loss.
Novo Nordisk (NYSE:) raised its 2024 guidance and posted better-than-expected first-quarter earnings. However, shares fell 2.4% after early gains were erased.
Netherlands’ ING Group Shares in (AS:) jumped 5.4% following a €2.5 billion ($2.68 billion) share buyback and strong first-quarter results. Britain’s Standard Chartered (OTC:) rose 5% after rising first-quarter profit, putting the banking index at the top of the list of industry gainers.
Shares of French office services and call center company Tele Performance rose 15.4% after sales rose in the first quarter.
($1 = 0.9327 euros)