nvesting.com – European stocks were mixed Friday morning ahead of an underwhelming U.S. earnings season.
The pan-European Euro Stoxx 50 inched forward 0.08% as of 4:46 AM ET (9:46 AM GMT).
In Spain, the IBEX 35 rose 0.08%. Steel and manufacturing firm ArcelorMittal SA (MC:MTS) was among the biggest winners, jumping 2.94% after Credit Suisse (SIX:CSGN) raised the company’s stock price target. Engineering and construction firm Tecnicas Reunidas (MC:TRE) increased 1.87%.
Meanwhile, bank stocks were mixed. Caixabank SA (MC:CABK) fell 0.25%, while Santander (MC:SAN) was down 0.18% and BBVA (MC:BBVA) inched forward 0.04%. Bankia SA (MC:BKIA) inched down 0.02% and Bankinter (MC:BKT) decreased 0.31%.
IT firm Amadeus IT (MC:AMA) was among the biggest losers, dropping 0.64% while textile firm Inditex (MC:ITX) fell 0.68%.
In Germany, the DAX was up 0.02%. Airline firm Deutsche Lufthansa AG (DE:LHAG) fell 1.03% while after Austria’s anti-competition authority voiced concerns about the company’s takeover of Air Berlin. Meanwhile auto firm Bayerische Motoren Werke AG (DE:BMWG) was down 0.71%.
The financial sector was among the biggest winners, with Commerzbank (DE:CBKG) increasing 0.51% and Deutsche Bank (DE:DBKGn) surging 0.35%. Elsewhere, media firm Prosiebensat 1 Media AG (DE:PSMGn) jumped 1.68%.
France’s CAC 40 inched down 0.04% as financial stocks dragged down. Societe Generale (PA:SOGN) decreased 1.61% while BNP Paribas (PA:BNPP) fell 0.38%.
Manufacturing firm ArcelorMittal SA (AS:MT) was among the biggest movers, surging 3.31%. Retail firm Carrefour (PA:CARR) was also up 0.73%.
In London, the FTSE 100 fell 0.36%. Consumer credit firm Experian PLC (LON:EXPN) decreased 2.11% while financial institution Standard Chartered (LON:STAN) was down 1.42%.
Lender Provident Financial (LON:PFG) surged 14.07% after it reaffirmed a pre-exceptional loss of £120 million in 2017.
Meanwhile, Crude Oil WTI Futures was up 1.54% to $51.39 a barrel after China said September imports rose 18.7% compared to last year, while exports increased 8.1%. Data from the second-largest economy have also imported around 8.5 million barrels of oil each day since January.
The U.S. Dollar index, which measures the greenback against a basket of six major currencies, fell to 92.89.