Europe stocks mixed & U.S. futures lower; DAX down 0.13%
Investing.com
Published Aug 12, 2010 07:29AM ET
Investing.com – European stocks were mixed on Thursday, while U.S. futures indices pointed to a lower open on Wall Street after technology company Cisco Systems reported worse-than-expected second quarter earnings.
During European afternoon trade, the EURO STOXX 50 rose 0.12%; France’s CAC 40 shed 0.14% while Germany's DAX fell 0.13%.
Earlier in the day, official data showed that industrial production in the euro zone fell more-than-expected in June.
The DAX's losses came after shares in German chip maker Infineon Technologies shed 3.31%.
In London, the commodity heavy FTSE 100 was up 0.46% as wheat prices rose ahead of a key supply and demand report by the U.S. Department of Agriculture, the first since Russia announced an export ban last week.
However crude oil prices fell for a third day, shedding 0.42% to hit USD 77.25 a barrel.
The outlook for U.S. equity markets, meanwhile, was pessimistic ahead of earnings reports from cosmetics giants Estee Lauder and Kohl's and the convenience food maker Sara Lee's.
Earlier in the day, shares in Cisco Systems dropped 7.71% in pre-market trading after the company reported that its second-quarter profit was below expectations. The company also revised down its full-year outlook.
Dow Jones Industrial Average futures indicated a loss of 0.16%, S&P 500 futures pointed to a drop of 0.21% and Nasdaq 100 futures indicated a decrease of 0.56%.
Later in the day, the U.S. was to publish key data on initial jobless claims.
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Written By: Investing.com
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