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周四，富时MIB指数下跌约0.3%，收于38249点，这是连续第二天下跌，与大多数欧洲同行持平。市场参与者消化了新一轮企业盈利，以及对贸易关税和解决俄乌冲突的挫折的担忧。在经济数据方面，意大利12月建筑业产出同比下降0.6%，为四个月来首次下降。在个股中，A2a（-3.2%）和Leonardo（-3.1%）落后，尽管季度业绩良好。泰纳瑞斯在公布2024年业绩后下跌2.7%，净利润下降48%，至20.7亿美元，尽管仍超过预期。另一方面，意法半导体（+5.7%）脱颖而出，受益于杰富瑞的一份非常有利的报告。

The FTSE MIB lost ground to close about 0.3% down at 38,249 on Thursday, marking the second day of losses, in line with most of its European peers. Market participants digest a new round of corporate earnings, along with concerns over trade tariffs and setbacks in the resolution of the Russia-Ukraine conflict. On the economic data front, construction output in Italy fell 0.6% year-on-year in December, the first decline in four months. Among individual stocks, A2a (-3.2%) and Leonardo (-3.1%) lagged, despite the positive quarterly results. Tenaris dropped 2.7% after releasing its 2024 results, with net profit falling 48% to 2.07 billion dollars, although still exceeding estimates. On the flip side, STMicroelectronics (+5.7%) stood out, benefiting from a highly favorable report by Jefferies.

周四，欧洲股市收盘大多下跌，受一批喜忧参半的企业盈利的压力，市场继续评估美国潜在贸易壁垒和欧盟成员国国防开支增加的影响。欧元区STOXX 50指数收于5453点，保持了昨日从周一历史高点的回落，而STOXX 600指数小幅下跌0.2%，至551点。空中客车公司股价下跌2.3%，此前该公司公布了悲观的业绩，并表示如果美国政府继续征收关税，该公司可能不得不推迟在美国的交付，以专注于其他消费者。与此同时，梅赛德斯-奔驰在报告其汽车部门2024年销量下降40%后。另一方面，施耐德电气在公布2024年创纪录的销售额和利润后上涨了3%，并为2025年提供了强有力的指导。

European stocks closed mostly lower on Thursday, pressured by a mixed batch of corporate earnings as markets continued to assess the impact of potential trade barriers from the US and higher defense spending from EU members. The Eurozone’s STOXX 50 closed at the flatline at 5,453, holding yesterday’s pullback from Monday’s record high, while the STOXX 600 edged down 0.2% to 551. Airbus lost 2.3% after delivering pessimistic results and signaling that it may have to delay US deliveries to focus on other consumers if the US government follows through with tariffs. In the meantime, Mercedes Benz after reporting a 40% drop in its car division's 2024. On the other hand, Schneider Electric jumped by 3% after posting a record sales and profits for 2024, in addition to delivering a strong guidance for 2025.

DAX指数在周四震荡后收于22340.6点，下跌约0.5%，延续了前一天的跌幅。交易员们关注了来自大西洋两岸的新一批企业报告，同时也评估了地缘政治和经济问题，特别关注贸易关税。在企业方面，梅赛德斯-奔驰集团（-2.5%）报告第四季度利润和收入疲软，同时由于主要市场、中国和欧洲的疲软，2024年的收益下降了30%，因此2025年的前景黯淡。与此同时，航空航天和国防类股再次喘息。从好的方面来看，制药行业表现最佳，赛多利斯（+4.3%）和拜耳（+1.8%）领涨。

The DAX finished about 0.5% lower at 22,340.6 after a volatile session on Thursday, extending losses from the previous day. Traders eyed a fresh batch of corporate reports from both sides of the Atlantic, while also assessing geopolitical and economic concerns, with particular focus on trade tariffs. On the corporate front, Mercedes-Benz Group AG (-2.5%) reported weak fourth-quarter profit and revenue, while also offering a bleak outlook for 2025 following a 30% decline in 2024 earnings due to weakness in key markets, China and Europe. At the same time, aerospace and defense stocks took another breath. On the upside, pharmaceuticals were among teh top performers, led by Sartorius (+4.3%) and Bayer (+1.8%).

CAC 40指数周四上涨0.2%，收于8123点，从上一交易日1.2%的跌幅中恢复，投资者仍关注企业盈利，同时密切关注贸易战和乌克兰持续冲突的发展。在企业方面，施耐德电气在报告创纪录的年销售额和利润以及预计2025年利润率将超过预期的增长后，股价飙升3%。其他表现强劲的公司包括意法半导体、Unibail-Rodamco-Westfield和Eurofins Scientific，其涨幅在1.9%至5.7%之间。相比之下，家乐福领跌，暴跌8.3%至2020年5月以来的最低水平，原因是2024年底疲软、2025年前景不明朗以及缺乏股票回购计划。空中客车和雷诺也出现了下跌，在令人失望的业绩之后，股价分别下跌了2.6%和4%。

The CAC 40 gained 0.2% to close at 8,123 on Thursday, recovering from a 1.2% decline in the previous session, as investors remained focused on corporate earnings while closely monitoring developments in the trade war and the ongoing conflict in Ukraine. On the corporate front, Schneider Electric surged 3%, after reporting record annual sales and profits, along with a forecasted larger-than-expected rise in its 2025 profit margin. Other strong performers included STMicroelectronics, Unibail-Rodamco-Westfield, and Eurofins Scientific, which posted gains between 1.9% and 5.7%. In contrast, Carrefour led the laggards, plunging 8.3% to its lowest level since May 2020, due to a weak end to 2024, an unclear outlook for 2025, and the lack of a share buyback program. Airbus and Renault also saw a decline, with shares dropping 2.6% and 4%, respectively, after disappointing results.