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Europe stocks pare gains ahead of key U.S. data; DAX gains 0.12%

Published 08/26/2010, 08:14 AM
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Investing.com – European stocks pared gains on Thursday, while U.S. futures indices pointed to a lower open on Wall Street, as risk aversion escalated ahead of the release of key U.S. employment data.

During European afternoon trade, the EURO STOXX 50 advanced 0.29%; France’s CAC 40 gained 0.24% and Germany's DAX increased 0.12%.
 
Earlier in the day, shares in Accor, Europe’s largest hotelier, increased 4.77% after the company reported that first-half losses shrank, while second-half profits more than doubled.

Stocks in the world’s second-largest goods inspection company, Bureau Veritas soared 5.49%, after the company announced that first-half net income rose 7.9% and revised up its forecast for second-half revenue growth by 10%.

In London, the commodity heavy FTSE 100 gained 0.36% as shares in Aggreko Plc. gained 4.31% after the company, which leases power generators, announced a 50% increase in its interim dividends.

Elsewhere in the commodity sector, shares in oil and gas giant, British Petroleum rose 2.47%, after the company announced that it decided against drilling in the Arctic after huge public opposition. 

Meanwhile, crude oil prices increased 0.73% to hit USD 73.36 a barrel.

The outlook for U.S. equity markets, meanwhile, was downbeat ahead of corporate earning reports from retailer J. Crew Group and software developer, Novell.

Dow Jones Industrial Average futures indicated a loss of 0.11%, S&P 500 futures pointed to a decrease of 0.09% and Nasdaq 100 futures fell 0.08%.

Later in the day, the U.S. was to release key weekly data on initial jobless claims.

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