Investing.com - European stocks were steady on Wednesday,
recovering from Tuesday's strong rally in global equities, while
expectations for further easing measures by the European Central
Bank continued to support.
During European morning trade, the DJ Euro Stoxx 50 eased 0.07%,
France's CAC 40 dipped 0.06%, while Germany's DAX inched up
European equities strengthened after reports on Tuesday that
Germany's Bundesbank is open to more stimulus measures from the
The Wall Street Journal reported the German central bank would
back monetary easing measures if they were needed to keep
persistently low levels of inflation from becoming entrenched in
the euro zone.
The news came after the ECB indicated last week that it is
"comfortable" with acting at its next meeting in June after it has
a chance to review the latest economic projections.
Financial stocks were mixed, as French lenders BNP Paribas
(PARIS:BNPP) and Societe Generale (PARIS:SOGN) declined 0.49% and
0.55%, while Germany's Deutsche Bank (XETRA:DBKGn) rose 0.21%.
Among peripheral lenders, Intesa Sanpaolo (MILAN:ISP) slipped
0.13% and Unicredit (MILAN:CRDI) added 0.20% in Italy, while
Spain's BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) fell
0.23% and 0.27% respectively.
Elsewhere, RWE (XETRA:RWEG) gained 0.76% even as the German
power producer said first-quarter profit dropped 36%.
Allianz (XETRA:ALVG) added to gains, up 0.58%, after the
Munich-based insurer said profit at its asset management unit
declined by 29%, fueling a decline in total earnings.
In London, FTSE 100 slipped 0.17%, led by ITV (LONDON:ITV),
whose shares plummeted 4.29% even as the company said total
revenues rose in the first quarter and that it expects advertising
revenue to climb 12% to 13% in the second quarter.
ICAP (LONDON:IAP) was also on the downside, tumbling 1.61%, as
the world's biggest broker of transactions between banks reported
full-year operating profit of £295 million, missing expectations
for £304.5 million.
In the mining sector, stocks were mostly lower as Bhp Billiton
(LONDON:BLT) eased 0.03% and Rio Tinto (LONDON:RIO) fell 0.21%,
while Glencore Xstrata (LONDON:GLEN) and Randgold Resources
(LONDON:RRS) retreated 1.84% and 1.94% respectively.
Earlier Wednesday, Bhp Billiton said it was considering selling
all or part of its Australian nickel unit, in the face of rising
Meanwhile, financial stocks were mixed. Shares in the Royal Bank
of Scotland (LONDON:RBS) slid 0.30% and Barclays (LONDON:BARC) lost
0.63%, while HSBC Holdings (LONDON:HSBA) edged up 0.15% and Lloyds
Banking (LONDON:LLOY) gained 0.58%.
In the U.S., equity markets pointed to a steady open. The Dow
30futures pointed to a 0.02% uptick, S&P 500futures signaled a
0.04% gain, while the Nasdaq 100futures indicated a 0.08% rise.
Later in the day, the euro zone was to produce data on
industrial production, while the U.S. was to release data on
producer price inflation.
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