Investing.com - European stocks were mixed to higher on Wednesday, after disappointing euro zone data, as investors continued to eye the Federal Reserve's highly anticipated policy statement later in the day.
During European afternoon trade, the EURO STOXX 50 inched up 0.04%, France’s CAC 40 slipped 0.11%, while Germany’s DAX 30 rose 0.24%.
Official data earlier showed that industrial production in the euro zone fell unexpectedly in October, dropping 1.4% after a 2.3% decline the previous month. Analysts had expected industrial production to rise 0.2% in October.
The U.S. central bank was expected to announce new easing steps to replace its Operation Twist program, which expires this month following its policy setting meeting later Wednesday.
Meanwhile, investors remained cautious as they awaited fresh developments in negotiations to avoid the U.S. fiscal cliff amid concerns that the automatic tax hikes and spending cuts due to take effect in early 2013 could derail the U.S. recovery.
Financial stocks remained mostly higher, as shares in Germany's Deutsche Bank and Commerzbank advanced 0.29% and 1.66%, while peripheral lenders such as Italian Intesa Sanpaolo and Spanish Banco Santander climbed 0.49% and 0.31% respectively.
In France, Societe Generale rose 0.44% and BNP Paribas slipped 0.19%.
Elsewhere, France-based Peugeot surged 6.94% after Europe’s second-largest carmaker said it will eliminate 1,500 job positions in addition to the 8,000 announced in July.
Hotel chain Accor tumbled 0.94% after saying France’s highest court has asked the hotelier to pay EUR149.7 million in taxes.
In London, commodity-heavy FTSE 100 rose 0.25%, after data showed that the number of people claiming unemployment benefits in the U.K. declined unexpectedly in November, while the number of people in employment rose to a record high.
Oil and mining stocks turned broadly higher, as shares in Anglo American rallied 2.02% and Evraz surged 3.31%, while Rio Tinto and BHP Billiton added 0.02% and 0.09% respectively.
Financial stocks added to gains, with Lloyds Banking rising 0.69% and the Royal Bank of Scotland advancing 0.76%, while Barclays jumped 1.04%. HSBC Holdings underperformed on the other hand, as shares dropped 0.48%.
Meanwhile, Imagination Technologies Group plunged 3.97%, even as the company reported higher-than-expected first-half earnings.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.10% gain, S&P 500 futures signaled a 0.10% rise, while the Nasdaq 100 futures indicated a 0.17% increase.
During European afternoon trade, the EURO STOXX 50 inched up 0.04%, France’s CAC 40 slipped 0.11%, while Germany’s DAX 30 rose 0.24%.
Official data earlier showed that industrial production in the euro zone fell unexpectedly in October, dropping 1.4% after a 2.3% decline the previous month. Analysts had expected industrial production to rise 0.2% in October.
The U.S. central bank was expected to announce new easing steps to replace its Operation Twist program, which expires this month following its policy setting meeting later Wednesday.
Meanwhile, investors remained cautious as they awaited fresh developments in negotiations to avoid the U.S. fiscal cliff amid concerns that the automatic tax hikes and spending cuts due to take effect in early 2013 could derail the U.S. recovery.
Financial stocks remained mostly higher, as shares in Germany's Deutsche Bank and Commerzbank advanced 0.29% and 1.66%, while peripheral lenders such as Italian Intesa Sanpaolo and Spanish Banco Santander climbed 0.49% and 0.31% respectively.
In France, Societe Generale rose 0.44% and BNP Paribas slipped 0.19%.
Elsewhere, France-based Peugeot surged 6.94% after Europe’s second-largest carmaker said it will eliminate 1,500 job positions in addition to the 8,000 announced in July.
Hotel chain Accor tumbled 0.94% after saying France’s highest court has asked the hotelier to pay EUR149.7 million in taxes.
In London, commodity-heavy FTSE 100 rose 0.25%, after data showed that the number of people claiming unemployment benefits in the U.K. declined unexpectedly in November, while the number of people in employment rose to a record high.
Oil and mining stocks turned broadly higher, as shares in Anglo American rallied 2.02% and Evraz surged 3.31%, while Rio Tinto and BHP Billiton added 0.02% and 0.09% respectively.
Financial stocks added to gains, with Lloyds Banking rising 0.69% and the Royal Bank of Scotland advancing 0.76%, while Barclays jumped 1.04%. HSBC Holdings underperformed on the other hand, as shares dropped 0.48%.
Meanwhile, Imagination Technologies Group plunged 3.97%, even as the company reported higher-than-expected first-half earnings.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.10% gain, S&P 500 futures signaled a 0.10% rise, while the Nasdaq 100 futures indicated a 0.17% increase.