Investing.com - European stocks remained mixed on Thursday, as investors were cautious ahead of the European Central Bank's monthly policy statement, expected later in the day.
During European afternoon trade, the EURO STOXX 50 edged up 0.04%, France’s CAC 40 slipped 0.21%, while Germany’s DAX 30 gained 0.36%.
Speculation over a rate cut by the ECB intensified after recent weak economic data indicated that the economic outlook for the euro zone was deteriorating.
Data on Tuesday showed that euro zone unemployment rose to a record 12.1% in March while another report showed that inflation fell more-than-expected in April.
Recent comments by ECB officials have indicated that the bank would consider cutting rates if it was warranted by worsening economic data.
Financial stocks remained mostly higher, as French lender BNP Paribas jumped 0.97%, while Germany's Deutsche Bank and Commerzbank surged 2.58% and 1.96%
Meanwhile, peripheral lenders were mixed. In Spain, BBVA added 0.27% and Banco Santander dipped 0.01%, while in Italy, Intesa Sanpaolo rose 0.22% and Unicredit eased 0.01%.
Adding to gains, Siemens rallied 1.33%, erasing earlier losses after saying full-year net income from continuing operations will approach the low end of its EUR4.5 billion to EUR5 billion target.
In London, commodiy-heavy FTSE 100 slipped 0.10%, weighed by sharp losses in mining stocks and after data showed that the contraction in the U.K. construction sector slowed in April.
Mining giants Rio Tinto and BHP Billiton remained on the downside, tumbling 1.01% and 1.68%, while rivals Eurasian Natural Resources and Rangold Resources saw shares plunge 1.13% and 2.39% respectively.
Meanwhile, financial stocks remained broadly lower. Lloyds Banking edged down 0.18% and HSBC Holdings slid 0.40%, while Barclays and the Royal Bank of Scotland retreated 0.51% and 0.91%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.26% gain, S&P 500 futures signaled a 0.27% rise, while the Nasdaq 100 futures indicated a 0.29% increase.
Also Thursday, data showed that the euro zone’s final manufacturing purchasing managers’ index for April fell to 46.7, from 46.8 in March and a four month low.
Germany’s final manufacturing PMI dropped to 48.1 from 49.0 in March.
Later in the day, the U.S. was to publish the weekly government report on initial jobless claims and official data on the trade balance.
During European afternoon trade, the EURO STOXX 50 edged up 0.04%, France’s CAC 40 slipped 0.21%, while Germany’s DAX 30 gained 0.36%.
Speculation over a rate cut by the ECB intensified after recent weak economic data indicated that the economic outlook for the euro zone was deteriorating.
Data on Tuesday showed that euro zone unemployment rose to a record 12.1% in March while another report showed that inflation fell more-than-expected in April.
Recent comments by ECB officials have indicated that the bank would consider cutting rates if it was warranted by worsening economic data.
Financial stocks remained mostly higher, as French lender BNP Paribas jumped 0.97%, while Germany's Deutsche Bank and Commerzbank surged 2.58% and 1.96%
Meanwhile, peripheral lenders were mixed. In Spain, BBVA added 0.27% and Banco Santander dipped 0.01%, while in Italy, Intesa Sanpaolo rose 0.22% and Unicredit eased 0.01%.
Adding to gains, Siemens rallied 1.33%, erasing earlier losses after saying full-year net income from continuing operations will approach the low end of its EUR4.5 billion to EUR5 billion target.
In London, commodiy-heavy FTSE 100 slipped 0.10%, weighed by sharp losses in mining stocks and after data showed that the contraction in the U.K. construction sector slowed in April.
Mining giants Rio Tinto and BHP Billiton remained on the downside, tumbling 1.01% and 1.68%, while rivals Eurasian Natural Resources and Rangold Resources saw shares plunge 1.13% and 2.39% respectively.
Meanwhile, financial stocks remained broadly lower. Lloyds Banking edged down 0.18% and HSBC Holdings slid 0.40%, while Barclays and the Royal Bank of Scotland retreated 0.51% and 0.91%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.26% gain, S&P 500 futures signaled a 0.27% rise, while the Nasdaq 100 futures indicated a 0.29% increase.
Also Thursday, data showed that the euro zone’s final manufacturing purchasing managers’ index for April fell to 46.7, from 46.8 in March and a four month low.
Germany’s final manufacturing PMI dropped to 48.1 from 49.0 in March.
Later in the day, the U.S. was to publish the weekly government report on initial jobless claims and official data on the trade balance.