Investing.com - European stock markets edged higher in thin year-end trade on Thursday, as markets eyed Italy’s second government bond auction this week amid sustained concerns over the financial crisis in the euro zone.
During European morning trade, the EURO STOXX 50 rose 0.26%, France’s CAC 40 advanced 0.25%, while Germany’s DAX 30 added 0.55%.
With most investors already away on year-end leave, trading volumes were thin, resulting in tight liquidity conditions and irregular volatility.
Italy was to sell EUR8.5 billion of long-term debt maturing between 2014 and 2022, later Thursday. Rome sold EUR9 billion of six-month bills on Wednesday, at an average yield of 3.25%, down from a record-high 6.50% in a previous auction in November.
But the auction failed to reassure markets as concerns over the debt crisis in the euro zone lingered after data showed earlier in the week that banks deposited a record high EUR452 billion at the European Central Bank's overnight facility, revealing that European lenders are still unwilling to lend to each other.
Financial stocks were mixed as shares in Germany’s Deutsche Bank climbed 0.65%, while French lenders BNP Paribas and Societe Generale retreated 0.40% and 1.45%.
Meanwhile, Italian banks Intesa Sanpaolo and Unicredit were among the day’s top gainers, with shares surging 1.34% and 0.77% respectively.
The energy sector also added to gains with shares in German groups E.ON AG and RWE AG advancing 0.50% and 0.57%, while France’s EDF added 0.33%.
In London, commodity-heavy FTSE 100 rose 0.13%, supported by gains in mining stocks.
Mining giants Rio Tinto and Bhp Billiton edged higher, advancing 0.02% and 0.81% respectively.
Meanwhile, copper producers were mixed with shares in Xstrata declining 0.05% and Kazakhmys gaining 0.11%.
Financial stocks were also mixed as shares in the Royal Bank of Scotland jumping 0.91% and Lloyds Banking climbing 0.54%, while Barclays and HSBC Holdings slumped 0.67% and 0.17%.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.17%, S&P 500 futures signaled a 0.13% increase, while the Nasdaq 100 futures indicated a 0.12% gain.
Later in the day, the European Central Bank was to publish a report on M3 money supply and private lending.
During European morning trade, the EURO STOXX 50 rose 0.26%, France’s CAC 40 advanced 0.25%, while Germany’s DAX 30 added 0.55%.
With most investors already away on year-end leave, trading volumes were thin, resulting in tight liquidity conditions and irregular volatility.
Italy was to sell EUR8.5 billion of long-term debt maturing between 2014 and 2022, later Thursday. Rome sold EUR9 billion of six-month bills on Wednesday, at an average yield of 3.25%, down from a record-high 6.50% in a previous auction in November.
But the auction failed to reassure markets as concerns over the debt crisis in the euro zone lingered after data showed earlier in the week that banks deposited a record high EUR452 billion at the European Central Bank's overnight facility, revealing that European lenders are still unwilling to lend to each other.
Financial stocks were mixed as shares in Germany’s Deutsche Bank climbed 0.65%, while French lenders BNP Paribas and Societe Generale retreated 0.40% and 1.45%.
Meanwhile, Italian banks Intesa Sanpaolo and Unicredit were among the day’s top gainers, with shares surging 1.34% and 0.77% respectively.
The energy sector also added to gains with shares in German groups E.ON AG and RWE AG advancing 0.50% and 0.57%, while France’s EDF added 0.33%.
In London, commodity-heavy FTSE 100 rose 0.13%, supported by gains in mining stocks.
Mining giants Rio Tinto and Bhp Billiton edged higher, advancing 0.02% and 0.81% respectively.
Meanwhile, copper producers were mixed with shares in Xstrata declining 0.05% and Kazakhmys gaining 0.11%.
Financial stocks were also mixed as shares in the Royal Bank of Scotland jumping 0.91% and Lloyds Banking climbing 0.54%, while Barclays and HSBC Holdings slumped 0.67% and 0.17%.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.17%, S&P 500 futures signaled a 0.13% increase, while the Nasdaq 100 futures indicated a 0.12% gain.
Later in the day, the European Central Bank was to publish a report on M3 money supply and private lending.