Investing.com - European stocks were mixed to lower on Wednesday, after disappointing Spanish economic growth data, while investors focused on the release of U.S. data and the Federal Reserve's policy statement.
During European afternoon trade, the EURO STOXX 50 edged down 0.17%, France’s CAC 40 eased 0.07%, while Germany’s DAX 30 slipped 0.10%.
Official data earlier showed that Spain's gross domestic product contracted more-than-expected in the fourth quarter, falling by 0.7% after a 0.3% decline in the previous quarter. Analysts had expected Spanish GDP to contract by 0.6% in the last quarter.
Meanwhile, markets were looking ahead to a series of significant U.S. economic events, including preliminary data on U.S. fourth quarter growth and the outcome of the Federal Reserve’s policy setting meeting later in the trading day.
The Federal Reserve was expected to reaffirm its commitment to its easing program until the U.S. unemployment rate falls below 6.5%.
Financial stocks were mixed, as shares in French lenders Societe Generale and BNP Paribas dropped 0.68% and 1.52%, while Germany's Deutsche Bank and Commerzbank rose 1% and 0.06%
Meanwhile, peripheral lenders turned broadly lower, with Italian banks Intesa Sanpaolo and Unicredit declining 0.92% and 0.33%, while Spain's BBVA and Banco Santander retreated 0.91% and 0.46%.
Swiss firm Roche plunged 2,34%, extending earlier losses, even as it forecast that sales and profit will rise this year, helped by new products such as a breast-cancer drug that’s slated for approval in February.
In London, commodity-heavy FTSE 100 inched up 0.03%, supported by gains in mining stocks.
Mining giants BHP Billiton and Rio Tinto rose 0.10% and 1.26%, while copper producers Xstrata and Kazakhmys continued to trend lower on the other hand, plummeting 0.82% and 3.72% respectively.
In the financial sector, stocks remained mixed. HSBC Holdings jumped 0.91% and the Royal Bank of Scotland rallied 1.46%, while Barclays and Lloyds Banking declined 0.27% and 1.35%.
In the U.S., equity markets pointed to a steady to steady open. The Dow Jones Industrial Average futures pointed to a 0.04% gain, S&P 500 futures signaled a 0.01% dip, while the Nasdaq 100 futures indicated a 0.10% rise.
Later in the day, the U.S. was to release data on ADP nonfarm payrolls.
During European afternoon trade, the EURO STOXX 50 edged down 0.17%, France’s CAC 40 eased 0.07%, while Germany’s DAX 30 slipped 0.10%.
Official data earlier showed that Spain's gross domestic product contracted more-than-expected in the fourth quarter, falling by 0.7% after a 0.3% decline in the previous quarter. Analysts had expected Spanish GDP to contract by 0.6% in the last quarter.
Meanwhile, markets were looking ahead to a series of significant U.S. economic events, including preliminary data on U.S. fourth quarter growth and the outcome of the Federal Reserve’s policy setting meeting later in the trading day.
The Federal Reserve was expected to reaffirm its commitment to its easing program until the U.S. unemployment rate falls below 6.5%.
Financial stocks were mixed, as shares in French lenders Societe Generale and BNP Paribas dropped 0.68% and 1.52%, while Germany's Deutsche Bank and Commerzbank rose 1% and 0.06%
Meanwhile, peripheral lenders turned broadly lower, with Italian banks Intesa Sanpaolo and Unicredit declining 0.92% and 0.33%, while Spain's BBVA and Banco Santander retreated 0.91% and 0.46%.
Swiss firm Roche plunged 2,34%, extending earlier losses, even as it forecast that sales and profit will rise this year, helped by new products such as a breast-cancer drug that’s slated for approval in February.
In London, commodity-heavy FTSE 100 inched up 0.03%, supported by gains in mining stocks.
Mining giants BHP Billiton and Rio Tinto rose 0.10% and 1.26%, while copper producers Xstrata and Kazakhmys continued to trend lower on the other hand, plummeting 0.82% and 3.72% respectively.
In the financial sector, stocks remained mixed. HSBC Holdings jumped 0.91% and the Royal Bank of Scotland rallied 1.46%, while Barclays and Lloyds Banking declined 0.27% and 1.35%.
In the U.S., equity markets pointed to a steady to steady open. The Dow Jones Industrial Average futures pointed to a 0.04% gain, S&P 500 futures signaled a 0.01% dip, while the Nasdaq 100 futures indicated a 0.10% rise.
Later in the day, the U.S. was to release data on ADP nonfarm payrolls.