European stocks were mixed on Thursday, after the release of disappointing French and German data, as a positive Chinese manufacturing report lent support and as investors awaited economic reports from the euro zone.
European stocks mixed after French, German PMIs; Dax up 0.20%European stocks turn mixed after disappointing PMI data
During European morning trade, the DJ Euro Stoxx 50 eased 0.02%, France’s CAC 40 dipped 0.01%, while Germany’s DAX rose 0.20%.
Markit research group said France's flash manufacturing purchasing managers' index fell to 49.3 this month, from a reading of 51.2 in April, compared to expectations for a downtick to 51.0.
France's flash services PMI fell to 49.2 in May, from a reading of 50.4 the previous month, confounding expectations for a fall to 50.2.
Markit also said that Germany's manufacturing PMI fell to 52.9 this month, from 54.1 in April, disappointing expectations for a slip to 54.0.
Germany's services PMI rose to 56.4 in May, from a reading of 54.7 in April, compared to expectations for a fall to 54.5.
Market sentiment found some support after data earlier showed that the preliminary reading of China’s HSBC manufacturing index rose to a five month high of 49.7 this month, up from a final reading 49.4 in April, but still remained below the 50 level separating contraction from expansion.
Financial stocks were mostly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) added 0.24% and 0.12%, while Germany's Deutsche Bank (XETRA:DBKGn) rose 0.35%.
Among peripheral lenders, Intesa Sanpaolo (MILAN:ISP) edged up 0.09% and Unicredit (MILAN:CRDI) dropped 0.54% in Italy, while Spain's BBVA (MADRID:BBVA) climbed 0.48%.
Elsewhere, Vivendi (PARIS:VIV) advanced 0.50% after saying it plans to sell about half of its remaining stake in video-game maker Activision Blizzard (NASDAQ:ATVI) in an offering valued at $866 million. The sale is expected to be completed by May 28.
Peugeot (PARIS:PEUP) added to gains, surging 3.49%, after the French carmaker completed the sale of 289 million new shares as part of a €3 billion capital increase.
In London, FTSE 100 rose 0.31%, led by Sabmiller (LONDON:SAB), up 3.69%, after the world’s second-biggest brewer predicted little change in business conditions this year and reported full-year earnings in line with analysts’ estimates.
Mining stocks were also on the upside, as Glencore Xstrata (LONDON:GLEN) jumped 1.29% and Rio Tinto (LONDON:RIO) rallied 1.61%, while Bhp Billiton (LONDON:BLT) gained 1.25% and Vedanta Resources (LONDON:VED) surged 3.16%.
On the downside, Unilever (LONDON:ULVR) slipped 0.19% after the maker of Magnum ice cream agreed to sell the Ragu and Bertolli North America pasta sauces business to Japanese food manufacturer Mizkan Group for about $2.15 billion in cash.
Meanwhile, financial stocks were mixed. Shares in HSBC Holdings (LONDON:HSBA) edged down 0.11% and the Royal Bank of Scotland (LONDON:RBS) declined 0.46%, while Lloyds Banking (LONDON:LLOY) and Barclays (LONDON:BARC) advanced 0.45% and 0.52% respectively.
In the U.S., equity markets pointed to a moderately higher open. The Dow 30 futures pointed to a 0.16% rise, S&P 500 futures signaled a 0.09% gain, while the Nasdaq 100 futures indicated a 0.07% uptick.
Later in the day, the euro zone was to release data on manufacturing and service sector activity. The U.S. was to produce its weekly report on initial jobless claims and private sector data on existing home sales.
www.punjiniveshonline.com
European stocks mixed after French, German PMIs; Dax up 0.20%European stocks turn mixed after disappointing PMI data
During European morning trade, the DJ Euro Stoxx 50 eased 0.02%, France’s CAC 40 dipped 0.01%, while Germany’s DAX rose 0.20%.
Markit research group said France's flash manufacturing purchasing managers' index fell to 49.3 this month, from a reading of 51.2 in April, compared to expectations for a downtick to 51.0.
France's flash services PMI fell to 49.2 in May, from a reading of 50.4 the previous month, confounding expectations for a fall to 50.2.
Markit also said that Germany's manufacturing PMI fell to 52.9 this month, from 54.1 in April, disappointing expectations for a slip to 54.0.
Germany's services PMI rose to 56.4 in May, from a reading of 54.7 in April, compared to expectations for a fall to 54.5.
Market sentiment found some support after data earlier showed that the preliminary reading of China’s HSBC manufacturing index rose to a five month high of 49.7 this month, up from a final reading 49.4 in April, but still remained below the 50 level separating contraction from expansion.
Financial stocks were mostly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) added 0.24% and 0.12%, while Germany's Deutsche Bank (XETRA:DBKGn) rose 0.35%.
Among peripheral lenders, Intesa Sanpaolo (MILAN:ISP) edged up 0.09% and Unicredit (MILAN:CRDI) dropped 0.54% in Italy, while Spain's BBVA (MADRID:BBVA) climbed 0.48%.
Elsewhere, Vivendi (PARIS:VIV) advanced 0.50% after saying it plans to sell about half of its remaining stake in video-game maker Activision Blizzard (NASDAQ:ATVI) in an offering valued at $866 million. The sale is expected to be completed by May 28.
Peugeot (PARIS:PEUP) added to gains, surging 3.49%, after the French carmaker completed the sale of 289 million new shares as part of a €3 billion capital increase.
In London, FTSE 100 rose 0.31%, led by Sabmiller (LONDON:SAB), up 3.69%, after the world’s second-biggest brewer predicted little change in business conditions this year and reported full-year earnings in line with analysts’ estimates.
Mining stocks were also on the upside, as Glencore Xstrata (LONDON:GLEN) jumped 1.29% and Rio Tinto (LONDON:RIO) rallied 1.61%, while Bhp Billiton (LONDON:BLT) gained 1.25% and Vedanta Resources (LONDON:VED) surged 3.16%.
On the downside, Unilever (LONDON:ULVR) slipped 0.19% after the maker of Magnum ice cream agreed to sell the Ragu and Bertolli North America pasta sauces business to Japanese food manufacturer Mizkan Group for about $2.15 billion in cash.
Meanwhile, financial stocks were mixed. Shares in HSBC Holdings (LONDON:HSBA) edged down 0.11% and the Royal Bank of Scotland (LONDON:RBS) declined 0.46%, while Lloyds Banking (LONDON:LLOY) and Barclays (LONDON:BARC) advanced 0.45% and 0.52% respectively.
In the U.S., equity markets pointed to a moderately higher open. The Dow 30 futures pointed to a 0.16% rise, S&P 500 futures signaled a 0.09% gain, while the Nasdaq 100 futures indicated a 0.07% uptick.
Later in the day, the euro zone was to release data on manufacturing and service sector activity. The U.S. was to produce its weekly report on initial jobless claims and private sector data on existing home sales.
www.punjiniveshonline.com
No comments:
Post a Comment