Investing.com - European stocks were mixed to lower in quiet trade on Monday, as positive U.S. employment data on Friday dampened expectations for the Federal Reserve to scale back its stimulus program in the near future.
During European morning trade, the EURO STOXX 50 slid 0.31%, France’s CAC 40 dropped 0.39%, while Germany’s DAX 30 inched up 0.07%.
Official data on Friday showed that the U.S. economy added 175,000 jobs last month, slightly more than the 170,000 gain forecast by economists. The unemployment rate ticked up to 7.6% from 7.5% in April.
The data indicated that the economic recovery in the U.S is on track but is not strong enough for the Federal Reserve to begin unwinding its USD85 billion-a-month asset purchase program.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale rose 0.92% and 0.33%, while Germany's Deutsche Bank rallied 1.81%.
Peripheral lenders added to gains, with Spanish banks BBVA and Banco Santander adding 0.14% and 0.74% respectively, while Italy's Intesa Sanpaolo and Unicredit climbed 0.25% and 0.57%.
Elsewhere, Elan surged 6.64% after the board instructed its advisers to assess "unsolicited" enquiries after unanimously rejecting Royalty Pharma’s USD6.7 billion takeover.
In London, FTSE 100 declined 0.41%.
Severn Trent led losses, plunging 3.86% after Borealis Infrastructure Management and its partners in the LongRiver group abandoned a GBP5.3 billion offer for Severn Trent after the U.K. water utility declined to negotiate with the group.
Adding to losses, mining giants Rio Tinto and BHP Billiton tumbled 1.64% and 1.41% respectively, while Anglo American and Polymetal plunged 1.67% and 3.57%.
In the financial sector, stocks were mixed. HSBC Holdings and Lloyds Banking declined 0.70% and 0.19%, while Barclays and the Royal Bank of Scotland advanced 0.43% and 1.08%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.18% rise, S&P 500 futures signaled a 0.22% gain, while the Nasdaq 100 futures indicated a 0.29% increase.
Also Monday, official data showed that French industrial production rose 2.2% in April, beating expectations for a 0.3% gain, after a 0.6% decline the previous month.
During European morning trade, the EURO STOXX 50 slid 0.31%, France’s CAC 40 dropped 0.39%, while Germany’s DAX 30 inched up 0.07%.
Official data on Friday showed that the U.S. economy added 175,000 jobs last month, slightly more than the 170,000 gain forecast by economists. The unemployment rate ticked up to 7.6% from 7.5% in April.
The data indicated that the economic recovery in the U.S is on track but is not strong enough for the Federal Reserve to begin unwinding its USD85 billion-a-month asset purchase program.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale rose 0.92% and 0.33%, while Germany's Deutsche Bank rallied 1.81%.
Peripheral lenders added to gains, with Spanish banks BBVA and Banco Santander adding 0.14% and 0.74% respectively, while Italy's Intesa Sanpaolo and Unicredit climbed 0.25% and 0.57%.
Elsewhere, Elan surged 6.64% after the board instructed its advisers to assess "unsolicited" enquiries after unanimously rejecting Royalty Pharma’s USD6.7 billion takeover.
In London, FTSE 100 declined 0.41%.
Severn Trent led losses, plunging 3.86% after Borealis Infrastructure Management and its partners in the LongRiver group abandoned a GBP5.3 billion offer for Severn Trent after the U.K. water utility declined to negotiate with the group.
Adding to losses, mining giants Rio Tinto and BHP Billiton tumbled 1.64% and 1.41% respectively, while Anglo American and Polymetal plunged 1.67% and 3.57%.
In the financial sector, stocks were mixed. HSBC Holdings and Lloyds Banking declined 0.70% and 0.19%, while Barclays and the Royal Bank of Scotland advanced 0.43% and 1.08%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.18% rise, S&P 500 futures signaled a 0.22% gain, while the Nasdaq 100 futures indicated a 0.29% increase.
Also Monday, official data showed that French industrial production rose 2.2% in April, beating expectations for a 0.3% gain, after a 0.6% decline the previous month.