Investing.com - European stock markets swung between small gains and losses after the open on Wednesday, as investors remained cautious ahead of the release of a U.S. jobs report later in the day.
During European morning trade, the EURO STOXX 50 was flat, France’s CAC 40 inched up 0.1%, while Germany’s DAX 30 was little changed. Elsewhere, Spain’s IBEX 35 rose 0.45% Italy’s FTSE MIB index gained 0.3%, while in London, the FTSE 100 picked up 0.4%.
Europe was given a positive lead from Asia, as the global selloff that has shaken markets in recent weeks paused. Japan’s Nikkei 225 index ended 1.2% higher, one day after suffering its worst daily loss since June 2012.
Meanwhile, in the U.S., the Dow Jones Industrial Average and the S&P 500 ended higher after data showed that U.S. factory orders fell less-than-expected in December.
Investors looked ahead to key U.S. economic data later in the day for further indications on the strength of the economy and the future course of monetary policy.
The U.S. is to release the ADP report on private sector job creation, which leads the government’s highly-anticipated nonfarm payrolls report by two days, while the ISM is to publish a report service sector activity.
In earnings news, shares of Swatch rallied 4.6% after the Swiss watchmaker reported better-than-expected full-year earnings for 2013 and forecast healthy sales growth as demand recovers in key markets like China.
On the downside, Hargreaves Lansdown tumbled 5.2% after the U.K.’s biggest investment broker reported disappointing quarterly earnings.
Syngenta shares dropped 2.4% after the Swiss agribusiness firm reported lower-than-expected full-year earnings and outlined plans to cut costs.
Across the Atlantic, U.S. equity markets pointed to a mildly lower open. The Dow Jones Industrial Average futures pointed to a loss of 0.2%, S&P 500 futures signaled a 0.3% decline, while the Nasdaq 100 futures indicated a drop of 0.3%.