BNP Paribas reported a net income of 1.92 billion euros ($2.15 billion) for the first quarter, a jump of 22% from the same period the year before. Shares were up 1%.
ING, the largest Dutch financial group, reported a slight drop in first-quarter underlying net profit of 1.12 billion euros ($1.26 billion), narrowly missing analyst expectations of 1.15 billion euros in a Reuters poll. Shares were down 1.5% on Thursday morning.
Aside from earnings, investors were digesting news from the Federal Reserve. Chairman Jerome Powell said in a news conference Wednesday that recently low inflationary pressures may only be “transitory,” dashing speculation the central bank was at least entertaining the idea of a rate cut because of tame inflation.
On the data front, factory activity in the euro zone contracted for a third month in April, according to IHS Markit, hit by weak global demand and rising trade protectionism, as well prolonged Brexit uncertainties.