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Markets

European stocks mixed to higher, focus on central banks; Dax up 0.41%

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Investing.com - European stocks were mixed to higher in quiet trade on Monday, as investors were eyeing the outcome of a series of central bank meetings this week.

During European morning trade, the EURO STOXX 50 dipped 0.05%, France's CAC 40 edged up 0.04%, while Germany's DAX 30 climbed 0.41%.

Speculation over an additional rate cut by the European Central Bank was fuelled by a string of disappointing euro zone data last week.

Official data confirmed on Thursday that consumer price inflation in the euro zone fell 0.1% in April from the previous month, with the annual rate of inflation slowing to 1.2% from 1.7% in March.

On Wednesday, data showed that the euro zone economy contracted by 0.2% in the three months to March bringing the annualized rate of decline to 0.9%.

Financial stocks were mostly higher, as French lenders BNP Paribas and Societe Generale advanced 0.60% and 1.02%, while Germany's Commerzbank surged 1.74%.

Peripheral lenders were on the downside however, with Spanish bank BBVA declining 0.54%, while Italy's Unicredit and Intesa Sanpaolo retreated 0.69% and 1.83% respectively.

Elsewhere, Electricite de France climbed 0.84% after the stock was upgraded by Credit Suisse Group.

In London, FTSE 100 added 0.17%, supported by gains in the financial sector.

Shares in Lloyds Banking advanced 0.48% and Barclays climbed 0.61%, while HSBC Holdings and the the Royal Bank of Scotland jumped 0.62% and 2.67%.

On the downside, mining giants BHP Billiton and Rio Tinto declined 0.04% and 0.90%, while Anglo American dropped 0.57%.

Randgold Resources added to losses, down 3.58%, as gold prices trended lower.

In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.05% loss, S&P 500 futures signaled a 0.06% fall, while the Nasdaq 100 futures indicated a 0.13% decline.

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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.

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