European stocks mixed to higher, earnings reports ahead; Dax up 0.02%
Published Jul 26, 2013 03:47AM ET
During European morning trade, the EURO STOXX 50 rose 0.35%, France’s CAC 40 advanced 0.71%, while Germany’s DAX 30 inched up 0.02%.
The release of mixed U.S. data on initial jobless claims and durable goods orders on Thursday fuelled fresh uncertainty over whether the Fed will start to scale back its bond buying program later this year.
European equities found some support on Thursday after data showed that the Ifo index of German business climate ticked up to 106.2 in July from 105.9 In June, better than expectations for a reading of 106.1.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale jumped 1.61% and 1.71%, while Germany's Deutsche Bank climbed 0.45%.
Peripheral lenders added to gains, with Spanish banks Banco Santander and BBVA advancing 0.50% and 0.76% respectively, while Italy's Intesa Sanpaolo and Unicredit rose 0.28% and 1.08%.
Elsewhere, Air France rallied 1.95% after forecasting an operating profit.
Vivendi was also on the upside, surging 2.47% after the company sold its stake in Activision Blizzard for USD8.17 billion.
In London, commodity-heavy FTSE 100 dipped 0.02%, weighed by losses in the mining sector.
Mining giants BHP Billiton and Rio Tinto slid 0.29% and 0.60% respectively, while rival Anglo American tumbled 0.92%.
Meanwhile, financial stocks were mostly lower. Shares in Barclays inched 0.02% lower and Lloyds Banking declined 0.39%, while the Royal Bank of Scotland plummeted 1.91%. HSBC Holdings overperformed on the other hand, climbing 0.53%.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.04% dip, S&P 500 futures signaled a 0.09% loss, while the Nasdaq 100 futures indicated a 0.08% slip.
Later in the day, the U.S. was to produce revised data on consumer sentiment from the University of Michigan.
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Written By: Investing.com
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