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Stocks - European Markets Take Lead From Wall Street, Open Mostly Higher

Published 01/18/2018, 03:43 AM
Updated 01/18/2018, 03:43 AM
© Reuters.  Frankfurt Stock Exchange

Investing.com - European markets opened mostly higher on Thursday, taking their lead from Wall Street and following dovish comments by European Central Bank policymaker Ewald Nowotny.

The EURO STOXX 50 eased up 0.09%, France’s CAC 40 inched 0.07% higher, while Germany’s DAX 30 was up 0.22% by 03:45 a.m. ET (07:45 GMT).

In an interview with an Italian newspaper on Wednesday, Nowotny said he did not rule out that monetary policy would still continue to be "very accommodating for a long time".

Financial stocks were broadly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) shed 0.24% and 0.74%, while Germany's Deutsche Bank (DE:DBKGn) slid 0.36%.

Among peripheral lenders, Italy's Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) retreated 0.26% and 0.64% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) eased 0.05% and 0.20%.

On the upside, Bayerische Motoren Werke AG (DE:BMWG) saw shares climb 0.54%. Earlier in the week, the German carmaker announced plans with Mercedes to test vehicle subscription services in the U.S.

Carrefour (PA:CARR) added to gains, with shares surging 3.25% after the French retailer on Wednesday cut its 2017 profit forecast for the second time in six months. The decision came as the company is set to unveil a turnaround plan next week.

In London, FTSE 100 slipped 0.17%, weighed by Associated British Foods PLC (LON:ABF), whose shares plummeted 2.31% after reporting record holiday sales at its low-cost fashion chain Primark, but also warning that sugar revenues will suffer from declining prices.

Meanwhile, financial stocks were mixed, as the Royal Bank of Scotland (LON:RBS) rose 0.31% and Barclays (LON:BARC) gained 0.41%, while Lloyds Banking (LON:LLOY) edged down 0.13% and HSBC Holdings (LON:HSBA) slid 0.31%.

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Mining stocks were broadly higher on the commodity-heavy index. Shares in BHP Billiton (LON:BLT) eased up 0.07% and Anglo American (LON:AAL) rose 0.34%, while Glencore (LON:GLEN) climbed 0.54% and Rio Tinto (LON:RIO) advanced 0.59%.

In other news, UK Prime Minister Theresa May and French President Emmanuel Macron were set meet on Thursday to discuss moves regarding counter-terrorism and defense co-operation.

In the U.S., equity markets pointed to a steady to lower open. The Dow Jones Industrial Average futures pointed to a 0.06% dip, S&P 500 futures signaled a 0.07% downtick, while the Nasdaq 100 futures indicated a 0.19% fall.

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