Investing.com – European stock markets were mixed on Wednesday, ahead of a key vote on austerity measures in Portugal, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 gained 0.18%, France’s CAC 40 added 0.35%, while Germany's DAX 30 dipped 0.11%.
Portugal’s parliament was to vote on a fresh round of austerity measures later in the day. On Tuesday, Prime Minister Jose Socrates threatened to resign if the vote failed to pass.
Shares in the financial sector were broadly lower, as Spain’s largest lender Banco Santander dropped 1.4%, rival BBVA saw shares slump 1.35%, while shares in Societe General dipped 1.1%.
However, shares in Italy’s largest lender Unicredit jumped 2.5% after it said fourth quarter net profit fell less-than-expected, declining by 13% from a year earlier to EUR321 million. Analysts expected the bank’s net profit to drop to EUR227 million.
The world’s largest reinsurer Munich Re saw shares slump 2.45% after it lowered its full-year earnings outlook, after estimating its claims from the Japan quake and tsunami would reach approximately EUR1.5 billion.
Separately, shares in Hannover Re dropped 0.9% after the group said it expected losses from the Japanese disaster to be around EUR250 million.
In London, the commodity-heavy FTSE 100 climbed 0.45% as shares in raw material companies led gains after metal prices advanced. Mining giant BHP Billiton saw shares jump 1.95%, shares in rival Rio Tinto added 2%, while copper producer Xstrata saw shares gain 2.5%.
Meanwhile, shares in U.K. grocer J. Sainsbury tumbled 5.2% after it cut its earnings outlook for the current quarter, saying it expected the consumer environment to remain difficult, citing fuel price inflation, unemployment concerns and government spending cuts.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a rise of 0.28%, S&P 500 futures indicated a gain of 0.35%, while the Nasdaq 100 futures added 0.2%.
Later in the day, the U.S. was to publish official data on new home sales, while Chairman of the Federal Reserve, Ben Bernanke was to deliver a speech at a public engagement.
During European morning trade, the EURO STOXX 50 gained 0.18%, France’s CAC 40 added 0.35%, while Germany's DAX 30 dipped 0.11%.
Portugal’s parliament was to vote on a fresh round of austerity measures later in the day. On Tuesday, Prime Minister Jose Socrates threatened to resign if the vote failed to pass.
Shares in the financial sector were broadly lower, as Spain’s largest lender Banco Santander dropped 1.4%, rival BBVA saw shares slump 1.35%, while shares in Societe General dipped 1.1%.
However, shares in Italy’s largest lender Unicredit jumped 2.5% after it said fourth quarter net profit fell less-than-expected, declining by 13% from a year earlier to EUR321 million. Analysts expected the bank’s net profit to drop to EUR227 million.
The world’s largest reinsurer Munich Re saw shares slump 2.45% after it lowered its full-year earnings outlook, after estimating its claims from the Japan quake and tsunami would reach approximately EUR1.5 billion.
Separately, shares in Hannover Re dropped 0.9% after the group said it expected losses from the Japanese disaster to be around EUR250 million.
In London, the commodity-heavy FTSE 100 climbed 0.45% as shares in raw material companies led gains after metal prices advanced. Mining giant BHP Billiton saw shares jump 1.95%, shares in rival Rio Tinto added 2%, while copper producer Xstrata saw shares gain 2.5%.
Meanwhile, shares in U.K. grocer J. Sainsbury tumbled 5.2% after it cut its earnings outlook for the current quarter, saying it expected the consumer environment to remain difficult, citing fuel price inflation, unemployment concerns and government spending cuts.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a rise of 0.28%, S&P 500 futures indicated a gain of 0.35%, while the Nasdaq 100 futures added 0.2%.
Later in the day, the U.S. was to publish official data on new home sales, while Chairman of the Federal Reserve, Ben Bernanke was to deliver a speech at a public engagement.