Europe open: Airbus flies high in flat market
European shares were flat at the opening on Thursday, with investors taking heart from an Airbus decision to increase aircraft production.
The pan-European Stoxx 600 index was barely moving the needle at 445 points as all regional bourses struggled for direction in the absence of any meaningful data.
Airbus topped the benchmark index as it announced plans to increase the production of its popular A320 single-aisle passenger aircraft to 45 per month in the fourth quarter and 64 per month by the second quarter of 2023 as it took an optimistic view of the economic recovery from the Covid pandemic.
The news also boosted aircraft engine maker Rolls-Royce along with aerospace engineers Melrose and Meggitt.
Shares in HSBC fell after the bank said it was pulling out of US retail banking by selling some parts of the money-losing business and winding down others to focus on Asia, its biggest market.
Food and beverages group Tate & Lyle fell 5% despite a rise in annual adjusted profits.
German sportswear firm Puma fell after French luxury goods group Kering said it will sell a 5.9% stake in the firm through a share placement.