Investing.com - European stocks were steady on Wednesday, after disappointing Spanish economic growth data, as investors focused on the release of U.S. data and the Federal Reserve's policy statement.
During European morning trade, the EURO STOXX 50 inched up 0.04%, France’s CAC 40 edged 0.07% higher, while Germany’s DAX 30 added 0.07%.
Official data 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, investors remained cautious ahead of a number of significant U.S. economic events later in the week, including data on fourth quarter growth and the Fed's monetary policy statement on Wednesday, as well as Friday’s U.S. nonfarm payrolls data.
The U.S. central bank was expected to reaffirm its commitment to its easing program until unemployment in the country falls below 6.5%.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale rose 0.08% and 0.54%, while Germany's Deutsche Bank and Commerzbank advanced 2.44% and 0.48% respectively.
Peripheral lenders added to gains, with Italian banks Intesa Sanpaolo and Unicredit climbing 0.39% and 0.92%, while Spain's BBVA and Banco Santander added 0.26% and 0.62%.
On the downside, Swiss firm Roche tumbled 1.48%, 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 0.04%, supported by gains in mining stocks.
Mining giants BHP Billiton and Rio Tinto rose 0.26% and 0.48%, while copper producers Xstrata and Kazakhmys trended lower on the other hand, sliding 0.48% and 0.85% respectively.
In the financial sector, stocks were mixed. Barclays eaded up 0.08% and HSBC Holdings climbed 0.54%, while the Royal Bank of Scotland and Lloyds Banking declined 0.17% and 0.64%.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.01% rise, S&P 500 futures signaled a 0.01% gain, while the Nasdaq 100 futures indicated a 0.13% increase.
Later in the day, the U.S. was to release data on ADP nonfarm payrolls.
During European morning trade, the EURO STOXX 50 inched up 0.04%, France’s CAC 40 edged 0.07% higher, while Germany’s DAX 30 added 0.07%.
Official data 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, investors remained cautious ahead of a number of significant U.S. economic events later in the week, including data on fourth quarter growth and the Fed's monetary policy statement on Wednesday, as well as Friday’s U.S. nonfarm payrolls data.
The U.S. central bank was expected to reaffirm its commitment to its easing program until unemployment in the country falls below 6.5%.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale rose 0.08% and 0.54%, while Germany's Deutsche Bank and Commerzbank advanced 2.44% and 0.48% respectively.
Peripheral lenders added to gains, with Italian banks Intesa Sanpaolo and Unicredit climbing 0.39% and 0.92%, while Spain's BBVA and Banco Santander added 0.26% and 0.62%.
On the downside, Swiss firm Roche tumbled 1.48%, 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 0.04%, supported by gains in mining stocks.
Mining giants BHP Billiton and Rio Tinto rose 0.26% and 0.48%, while copper producers Xstrata and Kazakhmys trended lower on the other hand, sliding 0.48% and 0.85% respectively.
In the financial sector, stocks were mixed. Barclays eaded up 0.08% and HSBC Holdings climbed 0.54%, while the Royal Bank of Scotland and Lloyds Banking declined 0.17% and 0.64%.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.01% rise, S&P 500 futures signaled a 0.01% gain, while the Nasdaq 100 futures indicated a 0.13% increase.
Later in the day, the U.S. was to release data on ADP nonfarm payrolls.