European shares end flat as economic woes overshadow upbeat earnings
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Travel and leisure tops sectoral gainers
Hermes underpins mood in luxury stocks
Renault rises after Q3 sales beat
Edenred plummets on slight Q3 miss
Updated at 1605 GMT
By Paolo Laudani, Ankika Biswas and Johann M Cherian
Oct 24 (Reuters) -European shares gave up early gains to close little changed on Thursday as investors assessed signs of stalling business activity and a raft of earnings from the likes of online gaming group Evolution, carmaker Renault and consumer major Unilever.
The pan-European STOXX 600 index .STOXX ended flat following three straight sessions in the red.
Travel and leisure .SXTP led sectoral gains with a 3.2% jump to a near seven-month high, as Sweden's Evolution EVOG.ST soared 15% after reporting third-quarter earnings in line with forecasts despite ongoing issues with its Georgian workforce.
Luxury stocks .STXLUXP were next in line, with Hermes HRMS.PA up 1% after the Birkin bag maker reported a hefty rise in third-quarter sales. That likely aided Kering's PRTP.PA 2% gain in the face of the Gucci owner's 2024 operating income warning.
The automobiles sector .SXAP, which has underperformed through much of the year, got a lift from French carmaker Renault's RENA.PA 4.7% rise following an unexpected increase in its quarterly revenue.
Unilever ULVR.L and Danone DANO.PA added 2.9% and 2.8% respectively after the consumer goods groups beat third-quarter sales estimates as they slowed price hikes and invested in winning back shoppers who had turned to cheaper brands during a surge in inflation.
The personal and household goods index .SXQP rose nearly 1.1%.
However, a survey showing euro zone business activity stalled again this month and remained in contractionary territory kept the optimism in check.
The STOXX had a strong start to the year on expectations of upcoming interest rate cuts by the European Central Bank, but the index has recently stalled as investors mull a stagnating economy, weak Chinese demand and the impact of U.S. elections on the currency union.
Manufacturing powerhouse Germany would be the big loser if a Donald Trump presidency sparked a tit-for-tat trade war between the U.S. and Europe.
"On the plus side, the ECB can be a bit more aggressive with cutting rates, but what it also means is that the economy is not as strong, and ultimately it is the economy that really drives the company's ability to make money," Steve Sosnick, chief market analyst at Interactive Brokers.
Further on the earnings front, French vouchers group Edenred EDEN.PA slumped 14.6% to the bottom of STOXX 600 after missing revenue expectations.
Hemnet HEM.ST lost 8% after the Swedish property platform operator reported third-quarter earnings below estimates.
Stora Enso STERV.HE missed market expectations for third-quarter operating profit, sending shares of the Finnish forestry company down 3.5%.
Mycronic MYCR.ST was among the top STOXX 600 gainers after the Swedish maker of equipment for electronics manufacturing posted better-than-expected quarterly earnings.
Eurozone, German and French final PMIs https://reut.rs/3UlyWgM
Reporting by Paolo Laudani in Gdansk, Ankika Biswas and Johann M Cherian in Bengaluru; Editing by Rashmi Aich, Janane Venkatraman and Jan Harvey
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