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European stocks mixed in light trade; Dax down 0.09%

By Investing.com  |  Stock Markets  |  Aug 12, 2013 07:39AM GMT  |   Add a Comment
 
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Investing.com - European stocks were mixed in light trade on Monday, as markets were jittery amid ongoing speculation over whether the Federal Reserve will soon scale back its bond-buying program.

European stocks mixed in light trade; Dax down 0.09%
During European morning trade, the EURO STOXX 50 inched up 0.03%, France’s CAC 40 eased up 0.05%, while Germany’s DAX 30 edged 0.09% lower.

Markets were jittery after the latest U.S. jobs report on August 2 showed that the economy added fewer jobs than expected in July.

The disappointing data saw investors reassess expectations for when the U.S. central bank would start to taper its asset purchase program.

Investors were looking ahead to Tuesday’s retail sales report, as well as speeches by senior Fed officials later in the week.

Financial stocks were mixed, as French lenders BNP Paribas and Societe Generale climbed 0.49% and 0.63%, while Germany's Deutsche Bank dipped 0.06%.

Among peripheral lenders, Spanish banks Banco Santander and BBVA retreated 0.55% and 0.85% respectively, while Italy's Intesa Sanpaolo tumbled 0.94% and Unicredit added 0.22%.

Elsewhere, Bilfinger advanced 0.57% after the German company predicted a "significantly" stronger second half and reported second-quarter net income of EUR47 million, in line with analysts' estimates.

In London, commodity-heavy FTSE 100 added 0.12%, supported by gains in mining stocks.

Mining giants BHP Billiton and Rio Tinto gained 0.42% and 1.77% respectively, while Evraz and Randgold Resources surged 3.59% and 4.48%.

Financial stocks added to gains, as shares in Barclays climbed 0.61% and Lloyds Banking advanced 0.78%, while HSBC Holdings rose 0.64% and the Royal Bank of Scotland rallied 2.28%.

Insurance company Catlin was also on the upside, jumping 1.08%, as HSBC raised the stock to overweight from neutral.

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 0.23% decline, while the Nasdaq 100 futures indicated a 0.17% loss.


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