Europe stocks mixed amid volatile trade; DAX rises 0.02%

Published 10/07/2010, 12:10 PM
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Investing.com – European stocks were mixed on Thursday, amid volatile trade as financial sector stocks led gains after the European Central Bank left its interest rate unchanged in October.

At the close of European trade, the EURO STOXX 50 was up 0.16%; France’s CAC 40 increased 0.08%; while Germany's DAX rose 0.02%.

Earlier in the day, the European Central Bank left its interest rate unchanged at a record low of 1.0% for the seventeenth consecutive month in October.

Shares in the financial sector outperformed with banks ending higher. French lender BNP Paribas rose 1.11%, German financial service provider AXA soared 1.81% and Italian lender Unicredito gained 1.42%.

In deal news, French auto-maker Renault SA soared 8.36% it announced it would sell a 14.9% stake in Volvo for approximately EUR 3 billion. Following the news, Volvo saw its shares tumble 3.94%.

In London, the FTSE 100 was down 0.34%, with real estate sector stocks leading losses after industry data showed that house prices in the U.K. declined unexpectedly in September.

Shares in British-based homebuilder Persimmon Plc. tumbled 3.59%, rivals Bovis Homes Group plunged 2.89% and Barratt Developments saw its shares plummet 4.23%. 

Across the Atlantic, U.S. markets were mixed: the Dow Jones Industrial Average was down 0.22%, the S&P 500 index shed 0.24%, while the Nasdaq Composite index gained 0.09%.

Earlier in the day, official data showed that U.S. initial jobless claims declined to a seasonally adjusted 445K last week after falling to revised 456K in the preceding week. Analysts had expected jobless claims to decline to 455K last week.


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