European stocks mixed after disappointing German data; Dax down 0.19%

Shutterstock photo - European stocks were mixed on Tuesday, after disappointing German trade balance data, while Japan's finance minister said Tokyo will purchase bonds from the European Stability Mechanism, the euro zone's permanent bailout fund.

During European morning trade, the EURO STOXX 50 slipped 0.11%, France's CAC 40 added 0.17%, while Germany's DAX 30 fell 0.19%.

Official data earlier showed that Germany's trade surplus narrowed unexpectedly in November, falling to EUR14.6 billion from a surplus of EUR14.9 billion the previous month. Analysts had expected Germany's trade surplus to expand to EUR15 billion in November.

Separately, Japanese Finance Minister Taro Aso said his government would buy bonds issued by the ESM in order to help stabilize the financial situation in the bloc.

Meanwhile, overall market sentiment remained cautious amid uncertainty about continuing political wrangling in Washington over further U.S. budget cuts and raising the U.S. debt ceiling.

Financial stocks were mixed, as shares in French lenders BNP Paribas and Societe Generale rose 0.49% and 0.56%, while Germany's Deutsche Bank slipped 0.17%.

Elsewhere, Royal KPN NV, the biggest Dutch phone company, surged 3.89% after Macquarie Group raised its recommendation on the stock to outperform from underperform.

In London, FTSE 100 edged up 0.11%, led by strong gains in Vodafone shares.

The telecom giant Vodafone rallied 2.76% after Verizon CEO Lowell McAdam told the Wall Street Journal Monday that his company is strong enough to buy Vodafone out of its stake in Verizon Wireless.

Verizon entered into a joint venture with Vodafone in 2000, creating what is now known as Verizon Wireless. Verizon currently owns 55% of the company, while Vodafone holds the remaining 45%.

Meanwhile, financial stocks were mostly lower, as the Royal Bank of Scotland slipped 0.15% and Lloyds Banking fell 0.20%, while HSBC Holdings dropped 0.80%. Barclays overperformed on the other hand, with shares advancing 0.47%.

Mining stocks added to losses, with Rio Tinto and BHP Billiton sliding 0.60% and 0.36%, while copper producers Xstrata and Kazakhmys declined 0.28% and 0.55% respectively.

In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.13% fall, S&P 500 futures signaled a 0.23% decline, while the Nasdaq 100 futures indicated a 0.25% loss.

Later in the day, the euro zone was to produce official data on retail sales, as well as on the unemployment rate. - offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

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

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

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