European Stocks Weaken on Downbeat U.S. Jobs Data, North Korean Worries


European stocks are tracking global markets lower as disappointing jobs data from the U.S., coupled with jitters over North Korea, contributed to overall weakness in market sentiment. Economic data in the region today was mixed: Euro-zone retail sales fell 0.3% from the prior month, a wider decline than the 0.2% economists had expected. German factory orders rose 2.3% over the prior month, topping the forecasts of a 1.2% increase.

In Greece, the next tranche of aid for the struggling EU country may be delayed due to the slow or lack of progress in instituting structural reforms.

In ADR news, AstraZeneca ( AZN ) has inched up 0.40% to $50.30 but is closer to a year high $50.69 after it announced mixed top-line results for OSKIRA-1, a Phase 3 study to assess the efficacy and safety of fostamatinib, the first oral spleen tyrosine kinase ( SYK ) inhibitor in development for rheumatoid arthritis (RA). OSKIRA-1 had two primary endpoints: assessing signs and symptoms of RA as measured by ACR20 response rates, and an X-ray endpoint known as mTSS (modified Total Sharp Score). In the OSKIRA-1 study, fostamatinib achieved a statistically significant improvement in ACR20 response rate at 24 weeks in both the 100 mg twice daily group and the group that received 100 mg twice daily for four weeks followed by 150 mg once daily (49%, p

The Stoxx Europe 600 index was lower, down 1.57% at 287.13; UK's FTSE 100 index was down 1.49% at 6249.78; Germany's DAX 30 index was down 2.03% at 7658.75; France's CAC 40 index was down 1.68% at 3663.48; and Greece's ASE was down 2.35% at 822.95. Outperforming others in the region, Italy's FTSE MIB was down 0.25% at 15161.82.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: AZN , SYK

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