Investing.com - European stock markets were mixed on Thursday, as soaring Italian borrowing costs added to concerns over the country's ability to overcome its deepening debt crisis.
During European morning trade, the EURO STOXX 50 edged up 0.23%, France’s CAC 40 rose 0.20%, while Germany’s DAX 30 inched down 0.02%.
Italy's ten-year bond yields closed at a euro-era high of 7.25% on Wednesday, fueling concerns over a break-up of the euro zone.
Later in the day, Italy was to auction EUR5 billion in one-year Treasury bills, in what would be a key test of investor appetite for the country's debt.
Meanwhile, Greek leaders were still struggling determine who will head the new coalition government.
European Commission President Jose Manuel Barroso urged European Union member states to "unite or face irrelevance" in the face of the increasingly desperate situations in Italy and Greece.
Italy's high borrowing costs boosted shares in the country's major banks, with Intesa Sanpaolo climbing 2.70% and Unicredit jumping 2.26%.
Meanwhile, their European counterparts were broadly lower as France's BNP Paribas saw shares tumble 1.17% and Societe Generale declined 1.28%, while Credit Agricole plunged 3.78% following a slump in its third-quarter net profit due to the group's high exposure to Greek sovereign debt.
Elsewhere, shares in German electronics powerhouse Siemens dove 6.90% as it reported a smaller-than-expected 11% increase in its full-year dividend after its quarterly profit fell short of expectations.
In London, commodity-heavy FTSE 100 declined 0.46%, tracking heavy losses in copper producers and energy stocks.
Xstrata and Kazakhmys were among the day's top losers, tracking a sharp downward trend in copper prices, with shares tumbling 2.70% and 2.76% respectively.
Mining giants Rio Tinto and Bhp Billiton added to losses, with shares declining 2.20% and 1.21%, while British Petroleum dropped 0.92% and International Power fell 0.94%
U.K. lenders shadowed their European counterparts, as HSBC Holdings saw shares plunge 2.32% and the Royal Bank of Scotland fell 0.76%, while Barclays and Lloyds Banking declined 0.70% and 0.40% respectively.
Elsewhere, U.S. equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.43%, S&P 500 futures signaled a 0.69% increase, while the Nasdaq 100 futures indicated a 0.64% gain.
Also Thursday, the European Central Bank said that a significant downward revision to its 2012 GDP forecast was very likely, adding that some risks to economic outlook have been materializing.
During European morning trade, the EURO STOXX 50 edged up 0.23%, France’s CAC 40 rose 0.20%, while Germany’s DAX 30 inched down 0.02%.
Italy's ten-year bond yields closed at a euro-era high of 7.25% on Wednesday, fueling concerns over a break-up of the euro zone.
Later in the day, Italy was to auction EUR5 billion in one-year Treasury bills, in what would be a key test of investor appetite for the country's debt.
Meanwhile, Greek leaders were still struggling determine who will head the new coalition government.
European Commission President Jose Manuel Barroso urged European Union member states to "unite or face irrelevance" in the face of the increasingly desperate situations in Italy and Greece.
Italy's high borrowing costs boosted shares in the country's major banks, with Intesa Sanpaolo climbing 2.70% and Unicredit jumping 2.26%.
Meanwhile, their European counterparts were broadly lower as France's BNP Paribas saw shares tumble 1.17% and Societe Generale declined 1.28%, while Credit Agricole plunged 3.78% following a slump in its third-quarter net profit due to the group's high exposure to Greek sovereign debt.
Elsewhere, shares in German electronics powerhouse Siemens dove 6.90% as it reported a smaller-than-expected 11% increase in its full-year dividend after its quarterly profit fell short of expectations.
In London, commodity-heavy FTSE 100 declined 0.46%, tracking heavy losses in copper producers and energy stocks.
Xstrata and Kazakhmys were among the day's top losers, tracking a sharp downward trend in copper prices, with shares tumbling 2.70% and 2.76% respectively.
Mining giants Rio Tinto and Bhp Billiton added to losses, with shares declining 2.20% and 1.21%, while British Petroleum dropped 0.92% and International Power fell 0.94%
U.K. lenders shadowed their European counterparts, as HSBC Holdings saw shares plunge 2.32% and the Royal Bank of Scotland fell 0.76%, while Barclays and Lloyds Banking declined 0.70% and 0.40% respectively.
Elsewhere, U.S. equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.43%, S&P 500 futures signaled a 0.69% increase, while the Nasdaq 100 futures indicated a 0.64% gain.
Also Thursday, the European Central Bank said that a significant downward revision to its 2012 GDP forecast was very likely, adding that some risks to economic outlook have been materializing.