Investing.com - European stocks were mixed to higher on Thursday, as markets eyed the outcome of the European Central Bank's monthly policy-setting meeting, amid recent signs of progress in tackling the euro zone's debt crisis.
During European afternoon trade, the EURO STOXX 50 advanced 0.54%, France’s CAC 40 rose 0.24%, while Germany’s DAX 30 climbed 0.46%.
The ECB was expected to leave interest rates unchanged at 0.75% on Thursday, but markets were awaiting remarks by President Mario Draghi amid wariness that he could express concerns over the impact of the euro’s recent gains on the region’s economic recovery.
On Wednesday, a German government spokesman said the single currency was not overvalued and that exchange rate policy was not an appropriate way to increase competitiveness.
The comments came after French President Francois Hollande called for a targeted exchange rate on Tuesday.
Financial stocks were mixed, as shares in French lenders BNP Paribas and Societe Generale climbed 0.63% and 1.14%, while Germany's Deutsche Bank and Commerzbank declined 0.89% and 0.27%.
Meanwhile, peripheral lenders remained on the upside, with Italian banks Intesa Sanpaolo and Unicredit jumping 1.01% and 1.07%, while Spain's Banco Santander and BBVA rallied 1.02% and 1.26% respectively.
Elsewhere, Alcatel-Lucent soared 6.18% as CEO Ben Verwaayen stepped down after numerous attempts to turn around the phone-equipment maker. The company reported a fourth-quarter net loss of EUR1.37 billion.
In London, FTSE 100 slipped 0.28%, weighed by losses in financial stocks, after the Bank of England left its monetary policy unchanged.
Shares in Barclays fell 0.37% and HSBC Holdings dropped 0.75%, while Lloyds Banking and the Royal Bank of Scotland tumbled 1.07% and 1.43%.
Mining giants Rio Tinto and BHP Billiton also turned lower, with shares retreating 0.47% and 1.10%, while copper producers Xstrata and Kazakhmys declined 0.75% and 0.60% respectively.
On the upside, Vodafone surged 1.83% after the world’s second-biggest mobile-phone operator repeated its forecast that adjusted operating profit for the year through March will be in the upper half of a range of GBP11.1 billion to GBP11.9 billion.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.11% rise, S&P 500 futures signaled a 0.19% increase, while the Nasdaq 100 futures indicated a 0.17% gain.
Later in the day, the U.S. was to release government data on initial jobless claims.
During European afternoon trade, the EURO STOXX 50 advanced 0.54%, France’s CAC 40 rose 0.24%, while Germany’s DAX 30 climbed 0.46%.
The ECB was expected to leave interest rates unchanged at 0.75% on Thursday, but markets were awaiting remarks by President Mario Draghi amid wariness that he could express concerns over the impact of the euro’s recent gains on the region’s economic recovery.
On Wednesday, a German government spokesman said the single currency was not overvalued and that exchange rate policy was not an appropriate way to increase competitiveness.
The comments came after French President Francois Hollande called for a targeted exchange rate on Tuesday.
Financial stocks were mixed, as shares in French lenders BNP Paribas and Societe Generale climbed 0.63% and 1.14%, while Germany's Deutsche Bank and Commerzbank declined 0.89% and 0.27%.
Meanwhile, peripheral lenders remained on the upside, with Italian banks Intesa Sanpaolo and Unicredit jumping 1.01% and 1.07%, while Spain's Banco Santander and BBVA rallied 1.02% and 1.26% respectively.
Elsewhere, Alcatel-Lucent soared 6.18% as CEO Ben Verwaayen stepped down after numerous attempts to turn around the phone-equipment maker. The company reported a fourth-quarter net loss of EUR1.37 billion.
In London, FTSE 100 slipped 0.28%, weighed by losses in financial stocks, after the Bank of England left its monetary policy unchanged.
Shares in Barclays fell 0.37% and HSBC Holdings dropped 0.75%, while Lloyds Banking and the Royal Bank of Scotland tumbled 1.07% and 1.43%.
Mining giants Rio Tinto and BHP Billiton also turned lower, with shares retreating 0.47% and 1.10%, while copper producers Xstrata and Kazakhmys declined 0.75% and 0.60% respectively.
On the upside, Vodafone surged 1.83% after the world’s second-biggest mobile-phone operator repeated its forecast that adjusted operating profit for the year through March will be in the upper half of a range of GBP11.1 billion to GBP11.9 billion.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.11% rise, S&P 500 futures signaled a 0.19% increase, while the Nasdaq 100 futures indicated a 0.17% gain.
Later in the day, the U.S. was to release government data on initial jobless claims.