Investing.com - European stocks remained lower on Thursday, as markets were jittery after the release of mixed German economic reports, while investors eyed highly anticipated U.S. jobless data later in the day.
During European afternoon trade, the EURO STOXX 50 retreated 0.79%, France’s CAC 40 tumbled 0.86%, while Germany’s DAX 30 dropped 0.40%.
Sentiment found some support after official data showed that the number of unemployed people in Germany fell for the second consecutive month in January, while the country’s jobless rate declined unexpectedly.
The positive report was tempered however by earlier data showing that German retail sales dropped 1.7% in December, more than the expected 0.1% decline, after a 0.6% rise the previous month.
The data came after the Fed said Wednesday that it will continue its USD85 billion a month quantitative easing program “if the outlook for the labor market does not improve substantially.”
The U.S. central bank also reiterated that it will continue to hold interest rates close to zero until the unemployment rate falls below 6.5%.
Financial stocks turned broadly lower, as shares in French lenders BNP Paribas and Societe Generale dropped 0.80% and 1.76%, while Germany's Commerzbank plummeted 2.95%.
Deutsche Bank overperformed on the other hand, climbing 0.65%, after posting a fourth-quarter loss that exceeded estimates after the company eliminated more than 1,400 jobs and set aside EUR1 billion for legal expenses.
Peripheral lenders added to losses, with Italian banks Unicredit and Intesa Sanpaolo retreating 0.82% and 2.60%, while Spain's BBVA and Banco Santander plunged 1.99% and 3.28% respectively.
In London, FTSE 100 declined 0.56%, weighed by sharp losses in the financial sector.
Shares in Lloyds Banking slipped 0.12% and HSBC Holdings dropped 0.57%, while Barclays and the Royal Bank of Scotland plummeted 1.50% and 2.40%.
Elsewhere, mining giants Rio Tinto and BHP Billiton remained higher, up 0.50% and 0.81%, while copper producers Xstrata added 0.13%.
Oil and gas major Anglo American also remained higher, advancing 0.64%, while Petrofac, an international provider of integrated facilities services to the oil, gas and energy production and processing industries, jumped 1.58%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.08% loss, S&P 500 futures signaled a 0.11% fall, while the Nasdaq 100 futures indicated a 0.33% drop.
Later in the day, the U.S. was to release the weekly government report on initial jobless claims.
During European afternoon trade, the EURO STOXX 50 retreated 0.79%, France’s CAC 40 tumbled 0.86%, while Germany’s DAX 30 dropped 0.40%.
Sentiment found some support after official data showed that the number of unemployed people in Germany fell for the second consecutive month in January, while the country’s jobless rate declined unexpectedly.
The positive report was tempered however by earlier data showing that German retail sales dropped 1.7% in December, more than the expected 0.1% decline, after a 0.6% rise the previous month.
The data came after the Fed said Wednesday that it will continue its USD85 billion a month quantitative easing program “if the outlook for the labor market does not improve substantially.”
The U.S. central bank also reiterated that it will continue to hold interest rates close to zero until the unemployment rate falls below 6.5%.
Financial stocks turned broadly lower, as shares in French lenders BNP Paribas and Societe Generale dropped 0.80% and 1.76%, while Germany's Commerzbank plummeted 2.95%.
Deutsche Bank overperformed on the other hand, climbing 0.65%, after posting a fourth-quarter loss that exceeded estimates after the company eliminated more than 1,400 jobs and set aside EUR1 billion for legal expenses.
Peripheral lenders added to losses, with Italian banks Unicredit and Intesa Sanpaolo retreating 0.82% and 2.60%, while Spain's BBVA and Banco Santander plunged 1.99% and 3.28% respectively.
In London, FTSE 100 declined 0.56%, weighed by sharp losses in the financial sector.
Shares in Lloyds Banking slipped 0.12% and HSBC Holdings dropped 0.57%, while Barclays and the Royal Bank of Scotland plummeted 1.50% and 2.40%.
Elsewhere, mining giants Rio Tinto and BHP Billiton remained higher, up 0.50% and 0.81%, while copper producers Xstrata added 0.13%.
Oil and gas major Anglo American also remained higher, advancing 0.64%, while Petrofac, an international provider of integrated facilities services to the oil, gas and energy production and processing industries, jumped 1.58%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.08% loss, S&P 500 futures signaled a 0.11% fall, while the Nasdaq 100 futures indicated a 0.33% drop.
Later in the day, the U.S. was to release the weekly government report on initial jobless claims.