Investing.com - European stocks were little changed on Thursday, as markets were jittery ahead of the release of U.S. economic data, after globally upbeat reports earlier in the week dampened expectations for fresh easing measures by the Federal Reserve.
During European afternoon trade, the EURO STOXX 50 eased 0.02%, France’s CAC 40 dipped 0.03%, while Germany’s DAX 30 added 0.06%.
Expectations for additional stimulus measures by the U.S. central bank eased after official data on Wednesday showed that industrial production in the U.S. rose by 0.6% in, beating expectations for a 0.5% increase and following a 0.1% rise the previous month.
The data came one day after a report showed that U.S. retail sales snapped four successive months of declines in July, jumping 0.8%, outstripping expectations for a 0.3% increase.
But investors remained cautious after data on Wednesday showed that a gauge of manufacturing activity in New York fell into contraction territory in August for the first time since October 2011.
Financial stocks turned broadly higher, as shares in German lenders Deutsche Bank and Commerzbank climbed 0.56% and 1.01% respectively. BNP Paribas remained lower on the other hand, edging down 0.12%, amid reports it is planning on selling its retail businesses in Egypt.
Peripheral lenders also contributed to gains, with Italian banks outperforming their counterparts after closing for a national holiday on Wednesday. Intesa Sanpaolo and Unicredit surged 3.51% and 2.49% respectively, while Spain’s Banco Santander and BBVA advanced 1.17% and 0.52%.
On the upside, struggling phone maker Nokia saw shares surge 3.37% after announcing a joint media event will be held with Microsoft in September, boosting expectations that it will show off its Windows smartphone upgrade before rival Apple presents its next iPhone – expected to be announced exactly a week later.
The news came after ratings agency Standard and Poor's on Wednesday downgraded Nokia's long-term corporate credit rating further into junk status, amid concerns over the company's deteriorating profitability.
In London, FTSE 100 slipped 0.09%, even as data showed that retail sales in the U.K. rose more-than-expected in July.
Admiral Group remained one of the session’s top losers, with shares plummeting 1.95%, a day after announcing that IT outsourcing business SilverBug merged with three of its divisions - Admiral IT, Admiral Network Infrastructure and Admiral Education Solutions.
Meanwhile, mining giants Rio Tinto and BHP Billiton pushed higher, as shares rose 0.86% and 1.29%. Copper producers Xstrata and Kazakhmys also added to gains, advancing 0.29% and 2.45% respectively, while rival company Vedanta Resources rallied 2.15%.
In the financial sector, stocks turned broadly higher. Shares in Lloyds Banking soared 3.26% and the Royal Bank of Scotland jumped 1.96%, while Barclays and HSBC Holdings rose 0.76% and 0.23% respectively.
Separately, the Royal Bank of Scotland, Barclays and HSBC Holdings were reportedly among the seven world banks subpoenaed this week in the U.S. investigation into alleged manipulation of Libor.
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 0.17% gain, while the Nasdaq 100 futures indicated a 0.14% increase.
Later in the day, the U.S. was to publish official data on building permits and housing starts, as well as weekly government data on unemployment claims and data on manufacturing activity in the Philadelphia area.
During European afternoon trade, the EURO STOXX 50 eased 0.02%, France’s CAC 40 dipped 0.03%, while Germany’s DAX 30 added 0.06%.
Expectations for additional stimulus measures by the U.S. central bank eased after official data on Wednesday showed that industrial production in the U.S. rose by 0.6% in, beating expectations for a 0.5% increase and following a 0.1% rise the previous month.
The data came one day after a report showed that U.S. retail sales snapped four successive months of declines in July, jumping 0.8%, outstripping expectations for a 0.3% increase.
But investors remained cautious after data on Wednesday showed that a gauge of manufacturing activity in New York fell into contraction territory in August for the first time since October 2011.
Financial stocks turned broadly higher, as shares in German lenders Deutsche Bank and Commerzbank climbed 0.56% and 1.01% respectively. BNP Paribas remained lower on the other hand, edging down 0.12%, amid reports it is planning on selling its retail businesses in Egypt.
Peripheral lenders also contributed to gains, with Italian banks outperforming their counterparts after closing for a national holiday on Wednesday. Intesa Sanpaolo and Unicredit surged 3.51% and 2.49% respectively, while Spain’s Banco Santander and BBVA advanced 1.17% and 0.52%.
On the upside, struggling phone maker Nokia saw shares surge 3.37% after announcing a joint media event will be held with Microsoft in September, boosting expectations that it will show off its Windows smartphone upgrade before rival Apple presents its next iPhone – expected to be announced exactly a week later.
The news came after ratings agency Standard and Poor's on Wednesday downgraded Nokia's long-term corporate credit rating further into junk status, amid concerns over the company's deteriorating profitability.
In London, FTSE 100 slipped 0.09%, even as data showed that retail sales in the U.K. rose more-than-expected in July.
Admiral Group remained one of the session’s top losers, with shares plummeting 1.95%, a day after announcing that IT outsourcing business SilverBug merged with three of its divisions - Admiral IT, Admiral Network Infrastructure and Admiral Education Solutions.
Meanwhile, mining giants Rio Tinto and BHP Billiton pushed higher, as shares rose 0.86% and 1.29%. Copper producers Xstrata and Kazakhmys also added to gains, advancing 0.29% and 2.45% respectively, while rival company Vedanta Resources rallied 2.15%.
In the financial sector, stocks turned broadly higher. Shares in Lloyds Banking soared 3.26% and the Royal Bank of Scotland jumped 1.96%, while Barclays and HSBC Holdings rose 0.76% and 0.23% respectively.
Separately, the Royal Bank of Scotland, Barclays and HSBC Holdings were reportedly among the seven world banks subpoenaed this week in the U.S. investigation into alleged manipulation of Libor.
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 0.17% gain, while the Nasdaq 100 futures indicated a 0.14% increase.
Later in the day, the U.S. was to publish official data on building permits and housing starts, as well as weekly government data on unemployment claims and data on manufacturing activity in the Philadelphia area.