Europe open: Shares mixed as investors assess French govt pension move

(Sharecast News) - European shares were mixed at the open on Thursday as investors eyed the latest political events in France and GDO data from the UK.

The pan-European Stoxx 600 index was 0.08% higher at 0852 BST with the UK FTSE 100 down 0.17% and France's CAC 40 declining by 0.2%.

Reappointed French Prime Minister Sebastien Lecornu on Wednesday said he would suspend a controversial pension reform until after the 2027 election, giving equities a boost.

On the economics front, the UK economy expanded modestly in August, according to official data, supported by the UK's dominant services sector.

GDP grew by 0.3% in the three months to August, in line with expectations and a slight increase on the 0.2% uplift seen in July.

In equity news, shares in Premier Inn owner Whitbread fell as the company downgraded its full-year profit outlook for Germany on Thursday as it posted a drop in group interim profits and revenue.

Nestle shares jumped as new CEO Philipp Navratil laid out plans to sack 16,000 workers in the next two years in an effort to boost sales and cut costs.

Reporting by Frank Prenesti for Sharecast.com