European markets close slightly lower as investors monitor EU, G-7 summits

LONDON — European stocks closed slightly lower on Thursday with regional investors keeping a close eye on developments in Ukraine, and key meetings of NATO, EU and G-7 leaders in Brussels.

The pan-European Stoxx 600 closed lower by less than 0.1%, having given back earlier gains. Retail stocks dropped 1.4% while telecoms added 1%.

Global markets closely followed high-profile meetings in Brussels on Thursday with a NATO summit, a meeting of EU leaders, and a G-7 summit taking place.

The war in Ukraine is top of the agenda as Russia’s invasion continues. U.S. President Joe Biden is attending the meetings and Ukrainian President Volodymyr Zelenskyy joined the NATO summit via video link.

On Wall Street, stocks bounced as investors tried to recover from declines in Wednesday’s session. The Dow Jones Industrial Average rebounded by about 260 points, or 0.7%. The S&P 500 added 1.1%. The Nasdaq Composite rose 1.2%.

Back in Europe, Daimler Truck and Poste Italiane reported earnings on Thursday.

Daimler Truck shares gained more than 7% after its earnings report, in which the German truck and bus manufacturer said it expects little impact on its business from Russia’s invasion of Ukraine and the Covid-19 pandemic.

At the top of the Stoxx 600, British investment company Bridgepoint jumped 10% after reporting a sharp rise in 2021 profit and revenue, and declaring a dividend.

At the bottom of the index, German manufacturer Kion Group fell 12%.

On the data front, euro zone and UK. business growth came in stronger than expected in March, according to new purchasing managers’ index readings published Thursday.