Investing.com - European stocks were mixed to higher on Thursday, despite the release of disappointing German and French economic growth data sparked fresh concerns over the situation in the euro zone.
During European morning trade, the EURO STOXX 50 rose 0.21%, France’s CAC 40 added 0.20%, while Germany’s DAX 30 edged up 0.12%.
Sentiment weakened after official data showing that Germany’s economy, the bloc's largest, contracted by 0.6% in the in the fourth quarter, worse than expectations for a 0.5% fall, after a 0.2% expansion in the three months to September.
Separately, France’s economy also contracted more than forecast, with gross domestic product falling by 0.3%, from 0.1% growth in the third quarter. Economists had forecast a contraction of 0.2% in the fourth quarter.
Financial stocks were mostly lower as German lenders Deutsche Bank and Commerzbank slipped 0.05% and 0.20%, while France's Societe Generale tumbled 1.49%.
BNP Paribas overperformed on the other hand, surging 2.79%, after increasing its dividend.
Peripheral lenders added to losses, with Italian bank Unicredit edging down 0.18%, while Spain's Banco Santander and BBVA dropped 0.83% and 1.56% respectively.
Elsewhere, Nokia saw shares dive 2.32% amid reports the cellphone company may be planning to join Apple in reducing its dependance on Korea's Samsung as a component supplier.
In London, FTSE 100 dipped 0.05%, still under pressure after the Bank of England said on Wednesday that inflation will remain above target until early 2016.
Financial stocks were mixed, as shares in the Royal Bank of Scotland and Barclays fell 0.21% and 0.28%, while HSBC Holdings and Lloyds Banking both added 0.14%.
Meanwhile, mining stocks trended broadly higher, led by BHP Billiton, up 1.30%, and closely followed by Rio Tinto, whose shares rallied 0.92%, while copper producers Xstrata and Kazakhmys added 0.04% and 0.33% respectively.
Reckitt Benckiser added to gains, jumping 1.73%, after the consumer goods company behind Lemsip, Nurofen and Strepsils throat lozenges said fourth-quarter sales increased by 6%, taking annual sales up to GBP9.6 billion.
In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.01% dip, S&P 500 futures signaled a 0.05% fall, while the Nasdaq 100 futures indicated a 0.16% decline.
Later in the day, the euro zone was to release preliminary data on fourth quarter growth, while the U.S. was to produce the weekly government report on initial jobless claims.
During European morning trade, the EURO STOXX 50 rose 0.21%, France’s CAC 40 added 0.20%, while Germany’s DAX 30 edged up 0.12%.
Sentiment weakened after official data showing that Germany’s economy, the bloc's largest, contracted by 0.6% in the in the fourth quarter, worse than expectations for a 0.5% fall, after a 0.2% expansion in the three months to September.
Separately, France’s economy also contracted more than forecast, with gross domestic product falling by 0.3%, from 0.1% growth in the third quarter. Economists had forecast a contraction of 0.2% in the fourth quarter.
Financial stocks were mostly lower as German lenders Deutsche Bank and Commerzbank slipped 0.05% and 0.20%, while France's Societe Generale tumbled 1.49%.
BNP Paribas overperformed on the other hand, surging 2.79%, after increasing its dividend.
Peripheral lenders added to losses, with Italian bank Unicredit edging down 0.18%, while Spain's Banco Santander and BBVA dropped 0.83% and 1.56% respectively.
Elsewhere, Nokia saw shares dive 2.32% amid reports the cellphone company may be planning to join Apple in reducing its dependance on Korea's Samsung as a component supplier.
In London, FTSE 100 dipped 0.05%, still under pressure after the Bank of England said on Wednesday that inflation will remain above target until early 2016.
Financial stocks were mixed, as shares in the Royal Bank of Scotland and Barclays fell 0.21% and 0.28%, while HSBC Holdings and Lloyds Banking both added 0.14%.
Meanwhile, mining stocks trended broadly higher, led by BHP Billiton, up 1.30%, and closely followed by Rio Tinto, whose shares rallied 0.92%, while copper producers Xstrata and Kazakhmys added 0.04% and 0.33% respectively.
Reckitt Benckiser added to gains, jumping 1.73%, after the consumer goods company behind Lemsip, Nurofen and Strepsils throat lozenges said fourth-quarter sales increased by 6%, taking annual sales up to GBP9.6 billion.
In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.01% dip, S&P 500 futures signaled a 0.05% fall, while the Nasdaq 100 futures indicated a 0.16% decline.
Later in the day, the euro zone was to release preliminary data on fourth quarter growth, while the U.S. was to produce the weekly government report on initial jobless claims.