European stocks fall in subdued trade; Dax down 0.22%
Investing.com
Published Aug 23, 2013 03:36AM ET
During European morning trade, the EURO STOXX 50 fell 0.28%, France’s CAC 40 retreated 0.65%, while Germany’s DAX 30 slipped 0.22%.
The Department of Labor on Thursday said the number of people who filed for unemployment assistance in the U.S. last week rose by 13,000 to a seasonally adjusted 336,000, slightly higher than forecasts for 330,000.
The data came a day after the minutes of the Fed’s July meeting showed that officials were "broadly comfortable" with plans to start unwinding the bank’s USD85 billion-a-month bond buying program.
However, officials remain divided over the timing of possible reduction, with almost all committee members agreeing that a change in the asset purchase program was not yet appropriate.
Financial stocks were mixed, as French lenders BNP Paribas and Societe Generale slid 0.32% and 0.48%, while Germany's Deutsche Bank added 0.24%.
Among peripheral lenders, Spanish bank Banco Santander eased 0.09% and BBVA edged up 0.13%, while in Italy, Unicredit rose 0.35% and Intesa Sanpaolo dropped 0.51%.
Elsewhere, Dutch lender ING Groep rallied 1.04% after Morgan Stanley raised its rating on the shares to overweight from equal weight.
In London, FTSE 100 fell 0.17%, weighed by losses in financial stocks.
HSBC Holdings lost 0.27% and Barclays retreated 0.71%, while Lloyds Banking plummeted 1%. The Royal Bank of Scotland overperformed on the other hand, rallying 1.66%.
Mining stocks were also on the downside, as Rio Tinto and BHP Billiton declined 0.16% and 0.80% respectively, while Glencore Xstrata and Polymetal shed 0.56% and 1.53%.
On the upside, Croda shares surged 2.38% after Deutsche Bank raised its recommendation on the world’s second-biggest maker of cosmetic ingredients to buy from hold.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.18% fall, S&P 500 futures signaled a 0.17% loss, while the Nasdaq 100 futures indicated a 0.12% slip.
Later in the day, the U.S. was to release official data on new home sales.
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Written By: Investing.com
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