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European stocks mixed ahead of euro zone CPI report; Dax up 0.06%

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Investing.com -

Investing.com - European stocks were mixed on Friday, as markets were jittery ahead of final data on euro zone consumer prices, although the European Central Bank's latest policy statement continued to support.

During European morning trade, the EURO STOXX 50 edged up 0.07%, France's CAC 40 added 0.25%, while Germany's DAX 30 inched 0.06% higher.

European equities had found support after the ECB said Wednesday it expects to fully implement its trillion euro quantitative easing program.

ECB President Mario Draghi played down speculation that recent signs of a recovery in the euro zone economy could see the bank scale back its buying program. Draghi also played down concerns that the asset purchase program will struggle to find enough euro zone bonds to buy.

Financial stocks were mixed, as Societe Generale (PARIS:SOGN) rose 0.29% and BNP Paribas (PARIS:BNPP) slipped 0.19% in France, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) declined 0.35% and 0.64%.

Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) rose 0.24% and 0.55% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) fell 0.17% and 0.25%.

Elsewhere, Nestle SA (SIX:NESN) rose 0.39% after the world's biggest food maker reported first-quarter revenue growth that beat analysts' estimates.

Telecom Italia (MILAN:TLIT) added to gains, with shares jumping 0.91% amid reports the Italian phone company is seeking to raise about €730 million from the initial public offering of its wireless tower unit.

In London, commodity-heavy FTSE 100 rose 0.22%, supported by gains in the mining sector.

Shares in Anglo American (LONDON:AAL) gained 0.48% and Rio Tinto (LONDON:RIO) advanced 0.56%, while rival company Bhp Billiton (LONDON:BLT) climbed 0.92%.

In the financial sector, stocks were steady to higher. Barclays (LONDON:BARC) and HSBC Holdings (LONDON:HSBA) both dipped 0.02%, while the Royal Bank of Scotland (LONDON:RBS) inched up 0.06% and Lloyds Banking (LONDON:LLOY) saw shares rise 0.21%.

Meanwhile, Astrazeneca (LONDON:AZN) advanced 0.48% after saying U.S. regulators granted orphan drug status to selumetinib for treating melanoma.

In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.12% fall, S&P 500 futures signaled a 0.11% loss, while the Nasdaq 100 futures indicated a 0.08% downtick.

Later in the day, the euro zone was to produce revised data on the consumer price index, while the U.S. was to release data on consumer prices and consumer sentiment.

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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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