Investing.com - European stocks were mixed to higher on Wednesday, after the release of positive U.S. employment data, as investors remained cautious amid sustained concerns over the handling of Spain's financial troubles.
During European afternoon trade, the EURO STOXX 50 inched up 0.02%, France’s CAC 40 dipped 0.06%, while Germany’s DAX 30 rose 0.17%.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 162,000 in September, surpassing expectations for an increase of 143,000.
The previous month’s figure was revised down to a gain of 189,000 from a previously reported increase of 201,000.
But sentiment remained under pressure after Spanish Prime Minister Mariano Rajoy on Tuesday ruled out a bailout request before this weekend, despite persistent speculation that Madrid was moving closer to requesting external financial aid.
Separately, official data showing that growth in China’s service sector moderated in September sparked fresh concerns over a slowdown in the world’s second largest economy.
Financial stocks were mostly higher, as France saw Societe Generale drop 0.66% and BNP Paribas climb 0.72%, while Germany's Deutsche Bank and Commerzbank advance 1.84% and 0.35%.
Meanwhile, Sanofi remained lower, as shares dropped 0.32% after Bristol-Myers Squibb agreed to return worldwide rights for the blood thinner Plavix and the hypertension medicine Avapro to France's biggest drugmaker now that the medicines are losing patent protection.
In addition, Telefonica edged down 0.19% as Spain’s biggest phone company said it plans to file with regulators as early as today its intention to sell shares in the O2 Germany unit.
In London, FTSE 100 added 0.22%, even as data showed that service sector activity in the U.K. declined more-than-expected in September.
Financial stocks were mixed, as shares in HSBC Holdings rallied 1.12% and the Royal Bank of Scotland climbed 0.58%, while the Lloyds Banking fell 0.15% and Barclays retreated 0.39%.
Meanwhile, mining stocks contributed to gains as shares in Rio Tinto and BHP Billiton added 0.49% and 0.08% respectively, while copper producer Xstrata advanced 0.56%.
Tesco remained on the downside on the other hand, with shares tumbling 1.59% after the U.K.’s largest retailer reported the first profit drop in almost two decades, as it attempted to halt declining same-store sales by ramping up investment in its supermarkets.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.01% gain, S&P 500 futures signaled a 0.07% loss, while the Nasdaq 100 futures indicated a 0.11% rise.
Also Wednesday, official data showed that retail sales rose by a seasonally adjusted 0.1% in August, compared to expectations for a 0.1% decline.
Retail sales for July were revised up to a 0.1% gain from a previously reported drop of 0.2%.
Later in the day, the U.S. was to produce data on U.S. service sector activity.
During European afternoon trade, the EURO STOXX 50 inched up 0.02%, France’s CAC 40 dipped 0.06%, while Germany’s DAX 30 rose 0.17%.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 162,000 in September, surpassing expectations for an increase of 143,000.
The previous month’s figure was revised down to a gain of 189,000 from a previously reported increase of 201,000.
But sentiment remained under pressure after Spanish Prime Minister Mariano Rajoy on Tuesday ruled out a bailout request before this weekend, despite persistent speculation that Madrid was moving closer to requesting external financial aid.
Separately, official data showing that growth in China’s service sector moderated in September sparked fresh concerns over a slowdown in the world’s second largest economy.
Financial stocks were mostly higher, as France saw Societe Generale drop 0.66% and BNP Paribas climb 0.72%, while Germany's Deutsche Bank and Commerzbank advance 1.84% and 0.35%.
Meanwhile, Sanofi remained lower, as shares dropped 0.32% after Bristol-Myers Squibb agreed to return worldwide rights for the blood thinner Plavix and the hypertension medicine Avapro to France's biggest drugmaker now that the medicines are losing patent protection.
In addition, Telefonica edged down 0.19% as Spain’s biggest phone company said it plans to file with regulators as early as today its intention to sell shares in the O2 Germany unit.
In London, FTSE 100 added 0.22%, even as data showed that service sector activity in the U.K. declined more-than-expected in September.
Financial stocks were mixed, as shares in HSBC Holdings rallied 1.12% and the Royal Bank of Scotland climbed 0.58%, while the Lloyds Banking fell 0.15% and Barclays retreated 0.39%.
Meanwhile, mining stocks contributed to gains as shares in Rio Tinto and BHP Billiton added 0.49% and 0.08% respectively, while copper producer Xstrata advanced 0.56%.
Tesco remained on the downside on the other hand, with shares tumbling 1.59% after the U.K.’s largest retailer reported the first profit drop in almost two decades, as it attempted to halt declining same-store sales by ramping up investment in its supermarkets.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.01% gain, S&P 500 futures signaled a 0.07% loss, while the Nasdaq 100 futures indicated a 0.11% rise.
Also Wednesday, official data showed that retail sales rose by a seasonally adjusted 0.1% in August, compared to expectations for a 0.1% decline.
Retail sales for July were revised up to a 0.1% gain from a previously reported drop of 0.2%.
Later in the day, the U.S. was to produce data on U.S. service sector activity.