Investing.com - European stocks were lower on Thursday, as uncertainty over whether world central banks are about to announce fresh stimulus measures to boost growth weighed on market sentiment.
During European morning trade, the EURO STOXX 50 fell 0.15%, France’s CAC 40 edged down 0.11%, while Germany’s DAX 30 retreated 0.52%.
Investors were eyeing a speech by Federal Reserve Chairman Ben Bernanke at the central bank’s annual symposium in Jackson Hole, Wyoming on Friday, amid ongoing speculation over how close the Fed may be to implementing more economic stimulus measures.
Markets were also jittery amid speculation that the European Central Bank may be working on measures to help stabilize the euro zone's sovereign debt markets and bring down Spanish and Italian borrowing costs ahead of its upcoming policy meeting.
Financials stocks were broadly lower, as shares in French lenders BNP Paribas and Societe Generale dropped 0.67% and 0.48% respectively, while Germany’s Deutsche Bank and Commerzbank lost 0.47% and 0.55%.
Peripheral lenders also contributed to losses, with Spain’s Banco Santander and BBVA retreating 0.82% and 0.39%.
On the upside, Carrefour rallied 5.97% after the world’s second-largest retailer reported first-half profit that beat analysts’ estimates.
France-based Vivendi also gained ground, surging 3.77% after Europe’s biggest media and telecommunications company reported better-than-expected second-quarter net income of EUR706 million.
In London, commodity-heavy FTSE 100 eased 0.07%, weighed by losses in mining stocks.
Rio Tinto and BHP Billiton saw shares plummet 1.94% and 1.22% respectively, while copper producers Xstrata and Kazakhmys plunged 1.15% and 3%.
Elsewhere, WPP tumbled 4.21% after the advertising company reduced its full-year revenue-growth forecast as clients cut spending amid the euro zone’s debt crisis.
The company also said that sales, excluding the impact of acquisitions and currency fluctuations, will grow “close to 3.5%” this year versus an earlier forecast for 4%.
In the financial sector, stocks were mixed. Shares in Barclays dropped 1.29% and HSBC Holdings declined 0.68%, while Lloyds Banking fell 0.27% and the Royal Bank of Scotland advanced 0.47%.
Earlier in the day, Barclays promoted the head of its consumer banking business Antony Jenkin to CEO, as it recovers from the Libor scandal that forced out former CEO Robert Diamond.
Separately, the U.K. lender confirmed after the close of trading on Wednesday that it is facing a criminal probe into fees it paid to Qatar’s sovereign wealth fund in 2008 as the bank sought to raise money to avoid a government bailout.
In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.19% fall, S&P 500 futures signaled a 0.22% decline, while the Nasdaq 100 futures indicated a 0.19% loss.
Later in the day, Italy was to auction 10-year bonds, in what would be a key test of investor appetite for the country’s debt.
Meanwhile, the U.S. was to release official data on personal income as well as a weekly report on jobless claims.
During European morning trade, the EURO STOXX 50 fell 0.15%, France’s CAC 40 edged down 0.11%, while Germany’s DAX 30 retreated 0.52%.
Investors were eyeing a speech by Federal Reserve Chairman Ben Bernanke at the central bank’s annual symposium in Jackson Hole, Wyoming on Friday, amid ongoing speculation over how close the Fed may be to implementing more economic stimulus measures.
Markets were also jittery amid speculation that the European Central Bank may be working on measures to help stabilize the euro zone's sovereign debt markets and bring down Spanish and Italian borrowing costs ahead of its upcoming policy meeting.
Financials stocks were broadly lower, as shares in French lenders BNP Paribas and Societe Generale dropped 0.67% and 0.48% respectively, while Germany’s Deutsche Bank and Commerzbank lost 0.47% and 0.55%.
Peripheral lenders also contributed to losses, with Spain’s Banco Santander and BBVA retreating 0.82% and 0.39%.
On the upside, Carrefour rallied 5.97% after the world’s second-largest retailer reported first-half profit that beat analysts’ estimates.
France-based Vivendi also gained ground, surging 3.77% after Europe’s biggest media and telecommunications company reported better-than-expected second-quarter net income of EUR706 million.
In London, commodity-heavy FTSE 100 eased 0.07%, weighed by losses in mining stocks.
Rio Tinto and BHP Billiton saw shares plummet 1.94% and 1.22% respectively, while copper producers Xstrata and Kazakhmys plunged 1.15% and 3%.
Elsewhere, WPP tumbled 4.21% after the advertising company reduced its full-year revenue-growth forecast as clients cut spending amid the euro zone’s debt crisis.
The company also said that sales, excluding the impact of acquisitions and currency fluctuations, will grow “close to 3.5%” this year versus an earlier forecast for 4%.
In the financial sector, stocks were mixed. Shares in Barclays dropped 1.29% and HSBC Holdings declined 0.68%, while Lloyds Banking fell 0.27% and the Royal Bank of Scotland advanced 0.47%.
Earlier in the day, Barclays promoted the head of its consumer banking business Antony Jenkin to CEO, as it recovers from the Libor scandal that forced out former CEO Robert Diamond.
Separately, the U.K. lender confirmed after the close of trading on Wednesday that it is facing a criminal probe into fees it paid to Qatar’s sovereign wealth fund in 2008 as the bank sought to raise money to avoid a government bailout.
In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.19% fall, S&P 500 futures signaled a 0.22% decline, while the Nasdaq 100 futures indicated a 0.19% loss.
Later in the day, Italy was to auction 10-year bonds, in what would be a key test of investor appetite for the country’s debt.
Meanwhile, the U.S. was to release official data on personal income as well as a weekly report on jobless claims.