European stocks mixed after Spanish data; Dax up 0.11%
Published May 06, 2013 03:58AM ET
During European morning trade, the EURO STOXX 50 slipped 0.19%, France’s CAC 40 eased 0.08%, while Germany’s DAX 30 added 0.11%.
Official data showed that the number of unemployed people in Spain fell by 46,100 in April, confounding expectations for a 17,100 rise, after 5,000 decline the previous month.
A separate report showed that Spain's service sector purchasing managers' index fell to 44.4 last month, from a reading of 45.3 in March, disappointing expectations for a rise to 45.6.
Meanwhile, markets were jittery after the European Commission revised down euro zone growth forecasts on Friday, saying it now expects the bloc’s economy to contract by 0.4% this year, more than the 0.3% decline it predicted previously.
Financial stocks were broadly lower, as shares in French lenders BNP Paribas and Societe Generale declined 0.16% and 0.67%, while Germany's Commerzbank retreated 0.60%
Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA sliding 0.54% and 1.07% respectively, while Italy's Intesa Sanpaolo and Unicredit shed 0.43% and 0.45%.
In addition, Norwegian Air Shuttle ASA plummeted 2% after saying that the load factor, a measure of seat occupancy, slipped to 73.6% in April from a year earlier.
Elsewhere, German industrial gases and engineering company Linde surged 3.01% after saying that operating profit climbed 13% to EUR953 million in the first quarter.
In London, FTSE 100 remained closed for a national holiday.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.11% rise, S&P 500 futures signaled a 0.09% gain, while the Nasdaq 100 futures indicated a 0.24% increase.
Also Monday, data showed that Italy's service sector PMI rose to 47.0 in April, from a reading of 45.5 the previous month, beating expectations for a rise to 45.8.
Later in the day, the euro zone was to release official data on retail sales.
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Written By: Investing.com
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