Breaking News
0

European stocks mixed as debt worries persist; DAX down 0.42%

Stock MarketsDec 28, 2011 04:29AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Investing.com - European stock markets were mixed on Wednesday, as investors remained concerned over the euro zone’s debt crisis ahead of a series of Italian debt auctions later in the day.

During European morning trade, the EURO STOXX 50 eased up 0.03%, France’s CAC 40 rose 0.37%, while Germany’s DAX 30 declined 0.42%.

While markets in the U.K. returned after an extended holiday break, most investors were already away on year-end leave, resulting in low trading volumes and subdued trade.

Italy was scheduled to sell EUR9 billion euros of 179-day bills and EUR2.5 billion euros of zero-coupon 2013 securities later Wednesday.

Ahead of the auctions, markets were jittery as the yield on Italy’s ten-year bonds remained close to the 7% threshold, a level widely considered unsustainable and above which other euro zone governments had been forced to seek bailouts.

Financial stocks led losses as shares in Germany’s Deutsche Bank tumbled 2.20% and Dutch lender ING Group dropped 1.95%, while France’s Societe Generale and Credit Agricole plummeted 1.95% and 1.87% respectively.

Peripheral lenders were also broadly lower with Italian Unicredit and Intesa Sanpaolo declining 1.14% and 0.20%, while Spanish BBVA and Banco Santander retreated 0.76% and 0.55%.

Meanwhile, French group Carrefour slid 0.29% after selling and leasing back 97 supermarket sites in France.

In London, commodity-heavy FTSE 100 rose 0.28%, despite sharp losses in the mining sector.

Mining giants Rio Tinto and Bhp Billiton declined 1.19% and 0.83%, while copper producers Xstrata and Kazakhmys tumbled 2.14% and 1.13% respectively.

Financial stocks were also broadly lower as shares in Lloyds Banking plunged 1.56% and the Royal Bank of Scotland dropped 1.02%, while Barclays and HSBC Holdings slumped 0.77% and 0.38%.

In the U.S., equity markets pointed to a mixed open. The Dow Jones Industrial Average futures pointed to a rise of 0.07%, S&P 500 futures signaled a 0.02% fall, while the Nasdaq 100 futures indicated a 0.05% gain.

Italy was also scheduled to auction EUR8.5 billion euros of debt due in 2014, 2018, 2021 and 2022 on Thursday.


European stocks mixed as debt worries persist; DAX down 0.42%
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email