Investing.com – European stock markets were mixed on Wednesday, as traders digested earnings from some of Europe's largest companies, while U.S. futures indexes pointed to a higher open on Wall Street ahead of the outcome of a critical Federal Reserve policy meeting later in the day.
During European morning trade, the EURO STOXX 50 climbed 0.45%, France’s CAC 40 advanced 0.4%, while Germany's DAX 30 gained 0.5%.
Shares in network-equipment maker Ericsson soared 8.2% after it reported first quarter net income jumped to EUR459.3 million, blowing past expectations for income of EUR336.1 million. Sales in the quarter rose 17%, as demand for wireless technology remained healthy during the quarter.
Shares in French automaker Renault climbed 3.5% after it reported a 15% increase in first quarter revenue, as results were boosted by healthy demand from Brazil and Russia as well as an improved product mix. The company said that while the tsunami in Japan may slow production, it still expected higher sales volumes and revenue this year.
The upbeat results boosted other shares across the sector, with Volkswagen rising 2.4% and BMW gaining 1.1%.
On the downside, shares in Europe’s largest semiconductor manufacturer STMicroelectronics slumped 3.45% after it said first quarter revenue totaled EUR1.73 billion, short of expectations for revenue of EUR1.76 billion.
Meanwhile, shares in Swiss banking giant Credit Suisse fell 0.8% after it said that first-quarter net profit slid 45%, as revenue from debt trading fell and earnings were hurt by the Swiss franc's strength against the euro and dollar.
In London, the FTSE 100 edged 0.15% lower as shares in the world’s third largest lender Barclays plunged 4.5% after reporting disappointing first quarter results. The lender said first quarter profit fell 5.2% to GBP1.01 billion, as results were weighed by a drop in revenue from fixed-income sales and trading.
The disappointing results weighed on other banking shares, with Lloyds Banking Group dropping 2% and Royal Bank of Scotland falling 1.75%.
Earlier in the day, official data showed that first quarter U.K. gross domestic product increased 0.5%, broadly in line with market expectations.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from Dow component Boeing. Online retailer eBay and the world’s biggest coffee-house chain Starbucks were also due to release earnings later in the day.
The Dow Jones Industrial Average futures pointed to a gain of 0.14%, S&P 500 futures indicated a rise of 0.15%, while the Nasdaq 100 futures added 0.38%.
Later in the day, the U.S. was to publish official data on durable goods orders, while the Fed was to announce its federal funds rate. The announcement was to be followed by the first-ever post policy meeting press conference by Fed Chairman Ben Bernanke.
During European morning trade, the EURO STOXX 50 climbed 0.45%, France’s CAC 40 advanced 0.4%, while Germany's DAX 30 gained 0.5%.
Shares in network-equipment maker Ericsson soared 8.2% after it reported first quarter net income jumped to EUR459.3 million, blowing past expectations for income of EUR336.1 million. Sales in the quarter rose 17%, as demand for wireless technology remained healthy during the quarter.
Shares in French automaker Renault climbed 3.5% after it reported a 15% increase in first quarter revenue, as results were boosted by healthy demand from Brazil and Russia as well as an improved product mix. The company said that while the tsunami in Japan may slow production, it still expected higher sales volumes and revenue this year.
The upbeat results boosted other shares across the sector, with Volkswagen rising 2.4% and BMW gaining 1.1%.
On the downside, shares in Europe’s largest semiconductor manufacturer STMicroelectronics slumped 3.45% after it said first quarter revenue totaled EUR1.73 billion, short of expectations for revenue of EUR1.76 billion.
Meanwhile, shares in Swiss banking giant Credit Suisse fell 0.8% after it said that first-quarter net profit slid 45%, as revenue from debt trading fell and earnings were hurt by the Swiss franc's strength against the euro and dollar.
In London, the FTSE 100 edged 0.15% lower as shares in the world’s third largest lender Barclays plunged 4.5% after reporting disappointing first quarter results. The lender said first quarter profit fell 5.2% to GBP1.01 billion, as results were weighed by a drop in revenue from fixed-income sales and trading.
The disappointing results weighed on other banking shares, with Lloyds Banking Group dropping 2% and Royal Bank of Scotland falling 1.75%.
Earlier in the day, official data showed that first quarter U.K. gross domestic product increased 0.5%, broadly in line with market expectations.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from Dow component Boeing. Online retailer eBay and the world’s biggest coffee-house chain Starbucks were also due to release earnings later in the day.
The Dow Jones Industrial Average futures pointed to a gain of 0.14%, S&P 500 futures indicated a rise of 0.15%, while the Nasdaq 100 futures added 0.38%.
Later in the day, the U.S. was to publish official data on durable goods orders, while the Fed was to announce its federal funds rate. The announcement was to be followed by the first-ever post policy meeting press conference by Fed Chairman Ben Bernanke.