Investing.com - European stocks were mixed to lower on Tuesday, after the release of disappointing Spanish employment data amid ongoing speculation over a possible rate cut by the European Central Bank.
During European morning trade, the EURO STOXX 50 slipped 0.12%, France’s CAC 40 fell 0.15%, while Germany’s DAX 30 eased 0.04%.
In a report, Spain’s Employment Ministry said the number of unemployed people increased by a seasonally adjusted 87,000 in October, compared to expectations for a rise of 31,300.
The number of unemployed people increased 25,600 in September.
European equities had strengthened on Monday after data showed that manufacturing activity in the euro zone edged higher in October from the previous month.
But investors remained cautious ahead of Thursday’s meeting after weak euro zone inflation data last week fuelled speculation that the ECB will cut rates in order to safeguard the economic recovery in the region.
Financial stocks were mostly lower, as French lenders BNP Paribas and Societe Generale slid 0.31% and 0.35%, while Germany's Deutsche Bank shed 0.31%.
However, among peripheral lenders, Spanish banks BBVA and Banco Santander rose 0.33% and 0.36% respectively, while Italy's Intesa Sanpaolo and Unicredit added 0.25% and 0.31%.
Elsewhere, BMW plunged 3.89% after the automaker said third-quarter earnings fell to EUR1.93 billion from EUR2 billion a year earlier, still exceeding analysts estimates.
In company news, Swiss drugmaker Novartis rallied 1.28% as the company reportedly identified its animal-health business as a top candidate for a sale.
In London, commodity-heavy FTSE 100 edged up 0.02%, supported by gains in mining stocks.
Shares in mining giants BHP Billiton and Rio Tinto jumped 1.92% and 2.12% respectively, while Glencore Xstrata surged 2.02% and Polymetal gained 2.80%.
Meanwhile, financial stocks were mixed. HSBC Holdings eased up 0.08% and Barclays climbed 0.47%, while Lloyds Banking and the Royal Bank of Scotland declined 0.82% and 2.49%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.12% fall, S&P 500 futures signaled a 0.09% loss, while the Nasdaq 100 futures indicated a 0.10% slip.
Markets were also jittery after comments by Federal Reserve officials on Monday indicated that the bank is likely to keep its stimulus program in place for some time to come.
Federal Reserve Bank of Boston President Eric Rosengren said bank should keep its asset purchase program in place until there is "compelling evidence of a sustainable recovery making satisfactory progress toward full employment."
Later in the day, the Institute of Supply Management is to release a report on service sector activity.
During European morning trade, the EURO STOXX 50 slipped 0.12%, France’s CAC 40 fell 0.15%, while Germany’s DAX 30 eased 0.04%.
In a report, Spain’s Employment Ministry said the number of unemployed people increased by a seasonally adjusted 87,000 in October, compared to expectations for a rise of 31,300.
The number of unemployed people increased 25,600 in September.
European equities had strengthened on Monday after data showed that manufacturing activity in the euro zone edged higher in October from the previous month.
But investors remained cautious ahead of Thursday’s meeting after weak euro zone inflation data last week fuelled speculation that the ECB will cut rates in order to safeguard the economic recovery in the region.
Financial stocks were mostly lower, as French lenders BNP Paribas and Societe Generale slid 0.31% and 0.35%, while Germany's Deutsche Bank shed 0.31%.
However, among peripheral lenders, Spanish banks BBVA and Banco Santander rose 0.33% and 0.36% respectively, while Italy's Intesa Sanpaolo and Unicredit added 0.25% and 0.31%.
Elsewhere, BMW plunged 3.89% after the automaker said third-quarter earnings fell to EUR1.93 billion from EUR2 billion a year earlier, still exceeding analysts estimates.
In company news, Swiss drugmaker Novartis rallied 1.28% as the company reportedly identified its animal-health business as a top candidate for a sale.
In London, commodity-heavy FTSE 100 edged up 0.02%, supported by gains in mining stocks.
Shares in mining giants BHP Billiton and Rio Tinto jumped 1.92% and 2.12% respectively, while Glencore Xstrata surged 2.02% and Polymetal gained 2.80%.
Meanwhile, financial stocks were mixed. HSBC Holdings eased up 0.08% and Barclays climbed 0.47%, while Lloyds Banking and the Royal Bank of Scotland declined 0.82% and 2.49%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.12% fall, S&P 500 futures signaled a 0.09% loss, while the Nasdaq 100 futures indicated a 0.10% slip.
Markets were also jittery after comments by Federal Reserve officials on Monday indicated that the bank is likely to keep its stimulus program in place for some time to come.
Federal Reserve Bank of Boston President Eric Rosengren said bank should keep its asset purchase program in place until there is "compelling evidence of a sustainable recovery making satisfactory progress toward full employment."
Later in the day, the Institute of Supply Management is to release a report on service sector activity.