Investing.com - European stocks were mixed to lower in choppy trade on Monday, after the release of downbeat German data, while investors remained cautious amid growing expectations the Federal Reserve will soon begin tapering its stimulus program.
During European afternoon trade, the EURO STOXX 50 edged down 0.11%, France’s CAC 40 declined 0.32%, while Germany’s DAX 30 added 0.15%.
Official data showed that industrial production in Germany declined by a seasonally adjusted 1.2% in October, disappointing expectations for a 0.8% gain. Industrial production for September was revised to a 0.7% decline from a previously reported drop of 0.9%.
A separate report showed that Germany's trade surplus narrowed in October as imports grew faster than exports, shrinking to EUR16.8 billion from EUR18.7 billion in September.
Germany exported goods worth EUR92.9 billion, up only fractionally from EUR92.7 billion in September, while imports grew by 2.8% to EUR76.1 billion from EUR74.0 billion.
Elsewhere, Friday’s U.S. nonfarm payrolls report showed that the economy added 203,000 jobs in November, well above expectations for jobs growth of 180,000. The unemployment rate fell to a five year low of 7.0%.
The data bolstered optimism over the outlook for the economic recovery and reinforced expectations that the Federal Reserve will start reducing its USD85 billion-a-month stimulus program at one of its next few meetings.
Financial stocks were mostly higher, as French lenders BNP Paribas and Societe Generale slipped 0.15% and 0.05%, although Germany's Deutsche Bank declined 0.83%.
Among peripheral lenders, Spanish bank BBVA edged down 0.24%, while Italy's Unicredit and Intesa Sanpaolo fell 0.24% and 0.33%.
Elsewhere, ThyssenKrupp tumbled 1.21% amid reports the German company plans keep its European steel business.
In London, commodity-heavy FTSE 100 slipped 0.17%, still weighed by losses in the mining sector.
Shares in Glencore Xstrata dropped 0.64% and Antofogasta retreated 2.41%, while rivals Vedanta Resources and Fresnillo plummeted 2.93% and 2.94% respectively.
Meanwhile, financial stocks were mixed. HSBC Holdings and Barclays declined 0.52% and 1.12% respectively, while the Royal Bank of Scotland and Lloyds Banking advanced 0.37% and 1.23%.
Earlier in the day, the Financial Times reported that HSBC may spin off its U.K. retail and commercial bank to ease the effect of new regulations.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.05% dip, S&P 500 futures signaled a 0.01% gain, while the Nasdaq 100 futures indicated a 0.12% increase.
During European afternoon trade, the EURO STOXX 50 edged down 0.11%, France’s CAC 40 declined 0.32%, while Germany’s DAX 30 added 0.15%.
Official data showed that industrial production in Germany declined by a seasonally adjusted 1.2% in October, disappointing expectations for a 0.8% gain. Industrial production for September was revised to a 0.7% decline from a previously reported drop of 0.9%.
A separate report showed that Germany's trade surplus narrowed in October as imports grew faster than exports, shrinking to EUR16.8 billion from EUR18.7 billion in September.
Germany exported goods worth EUR92.9 billion, up only fractionally from EUR92.7 billion in September, while imports grew by 2.8% to EUR76.1 billion from EUR74.0 billion.
Elsewhere, Friday’s U.S. nonfarm payrolls report showed that the economy added 203,000 jobs in November, well above expectations for jobs growth of 180,000. The unemployment rate fell to a five year low of 7.0%.
The data bolstered optimism over the outlook for the economic recovery and reinforced expectations that the Federal Reserve will start reducing its USD85 billion-a-month stimulus program at one of its next few meetings.
Financial stocks were mostly higher, as French lenders BNP Paribas and Societe Generale slipped 0.15% and 0.05%, although Germany's Deutsche Bank declined 0.83%.
Among peripheral lenders, Spanish bank BBVA edged down 0.24%, while Italy's Unicredit and Intesa Sanpaolo fell 0.24% and 0.33%.
Elsewhere, ThyssenKrupp tumbled 1.21% amid reports the German company plans keep its European steel business.
In London, commodity-heavy FTSE 100 slipped 0.17%, still weighed by losses in the mining sector.
Shares in Glencore Xstrata dropped 0.64% and Antofogasta retreated 2.41%, while rivals Vedanta Resources and Fresnillo plummeted 2.93% and 2.94% respectively.
Meanwhile, financial stocks were mixed. HSBC Holdings and Barclays declined 0.52% and 1.12% respectively, while the Royal Bank of Scotland and Lloyds Banking advanced 0.37% and 1.23%.
Earlier in the day, the Financial Times reported that HSBC may spin off its U.K. retail and commercial bank to ease the effect of new regulations.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.05% dip, S&P 500 futures signaled a 0.01% gain, while the Nasdaq 100 futures indicated a 0.12% increase.