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European stocks mixed in cautious trade; Dax up 0.13%

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Investing.com -

Investing.com - European stocks were mixed on Friday, as hopes for additional stimulus measures by the European Central Bank lent support to equities, while security concerns in Europe continued to weigh.

During European morning trade, the EURO STOXX 50 slipped 0.13%, France's CAC 40 dipped 0.04%, while Germany's DAX 30 added 0.13%.

European equities strengthened after the minutes of the European Central Bank's October meeting said on Thursday that the risk that it would miss its inflation target again has increased.

Most members of the Governing Council shared the view that inflation risks have increased and anticipated the timing of inflation getting back to target is likely to be pushed back again.

The central bank reiterated that it is ready to act and would reexamine its policies at its upcoming meeting on December 3.

Investors still remained cautious however amid concerns that Friday's terrorist attacks may not be an isolated.

Financial stocks were broadly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) declined 0.44% and 0.54%, while Germany's Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) lost 0.01% and 0.74%.

Among peripheral lenders, Italy's Unicredit (MI:CRDI) and Intesa Sanpaolo (MI:ISP) tumbled 0.95% and 1.18% respectively. Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) overperformed, with shares climbing 0.46% and 0.63%.

Elsewhere, Volkswagen (DE:VOWG_p) shares slid 0.69% as the carmaker was expected to make a statement following a planned supervisory board meeting at around noon local time.

In London, commodity-heavy FTSE 100 edged up 0.10%, helped by gains in the mining sector.

Shares in Rio Tinto (L:RIO) climbed 0.74% and Bhp Billiton (L:BLT) advanced 1.10%, while Anglo American (L:AAL) and Glencore (L:GLEN) rallied 1.31% and 1.86% respectively.

Meanwhile, financial stocks were mostly lower. The Royal Bank of Scotland (L:RBS) dropped 0.44% and Lloyds Banking (L:LLOY) declined 0.71%, while Barclays (L:BARC) plummeted 1.98%. HSBC Holdings (L:HSBA) overperformed, with shares rising 0.30%.

EasyJet added to losses, as shares tumbled 1.72% after passengers at Manchester airport were evacuated from a flight bound for Marrakech on Thursday following reports of a man carrying a bomb.

In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.28% increase, S&P 500 futures signaled a 0.17% gain, while the Nasdaq 100 futures indicated a 0.17% rise.

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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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