By Dow Jones Business News,
January 23, 2014, 07:38:00 AM EDT
By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- European stock markets moved mostly lower on Thursday, with shares of Pearson PLC and Nokia
Oyj posting some of the biggest losses after trading updates, and mining firms declining after disappointing Chinese
The Stoxx Europe 600 index fell 0.2% to 335.32, on track for its first loss in three days.
Shares of Pearson slumped 8% after the publisher said it continues to face tough trading this year.
Nokia ( NOK ) gave up 3.1% after the technology company reported a fourth-quarter sales decline for its soon-to-be-
transferred handset business.
EasyJet PLC lost 2.6% after the budget airliner said it expects to report a first-half pretax loss of between 70
million pounds ($116 million) and GBP90 million.
On a more upbeat note, shares of Delhaize Group SA rallied 8.1% after the Belgian supermarket company said revenue
rose in the fourth quarter and it will continue to cut costs in 2014.
More broadly, investors weighed the latest round of purchasing managers' indexes from the euro zone and China. The
manufacturing PMI for the currency union rose to a 32-month high in January, beating analysts' expectations and
providing further evidence the region is recovering.
On a country-specific level, Germany's manufacturing PMI rose to a 32-month high of 56.3, beating analyst
expectations. France's manufacturing sector continued to contract, albeit at a slower pace than in December. A level
above 50 signals expansion.
In China, the HSBC/Markit manufacturing PMI unexpectedly fell to a six-month low of 49.6, indicating that the sector
is contracting. Mining firms in Europe declined after the data, as the industry is sensitive to growth indications from
China because the country is a major user of natural resources.
Shares of Glencore Xstrata PLC (GLCNF) dropped 0.9%, while BHP Billiton PLC ( BHP ) and Rio Tinto PLC (RIO) both
The U.K.'sFTSE 100 index lost 0.2% to 6,810.11. France's CAC 40 index was slightly lower at 4,323.50, and Germany's
DAX 30 index fell 0.2% to 9,699.53.
U.S. stock futures pointed to a lower open on Wall Street.
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