EUROPE Stocks trade mixed

European stock markets were trading with mixed fashion during afternoon on Thursday, 16 February 2023, as positivity from Wall Street rally on Wednesday offset by concerns about interest rates after European Central Bank President Christine Lagarde made it clear on Wednesday that another interest rate hike of 50 basis points was coming next month.

At 14.42 GMT, the pan European Stoxx 600 index was down 0.4% to 462.57. The U.K.'s FTSE 100 index fell 0.16% to 7,985.36. France's CAC40 index inclined 0.4% to 7,329.72. Germany's DAX index dropped 0.4% to 15,443.14. Switzerland's Swiss Market index shed 1% to 11,163.72.

In corporate news, Standard Chartered shares advanced after the U.K.-listed bank lifted its forecasts and unveiled a new $1 billion share buyback program, after reporting a 28% rise in annual pretax profit.

Centrica shares were up after the owner of British Gas reported a tripling of full-year profits after energy prices soared last year in the wake of Russia's invasion of Ukraine. The company said it will extend its share buyback program by 300 million pounds.

Pernod Ricard shares climbed after the world's second-biggest spirits group posted strong first-half results, helped by price hikes in the Chinese and the U.S. markets.

Commerzbank shares advanced after the German lender lifted its profit guidance for this year, helped by beating fourth-quarter net income expectations.

Standard Chartered shares advanced after the lender announced a new $1 billion share buyback. The bank reported a 28% surge in annual pretax profit.

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