Investing.com - European stocks turned slightly higher on Thursday, even as the release of disappointing Spanish unemployment data added to concerns over the outlook for economic growth in the euro zone.
During European afternoon trade, the EURO STOXX 50 added 0.07%, France’s CAC 40 eased up 0.06%, while Germany’s DAX 30 climbed 0.64%.
Official data showed that Spain's unemployment rate ticked up to 27.2% in the first quarter, from 26.0% in the previous quarter, compared to expectations for a rise to 26.5%.
Expectations for a rate cut by the European Central Bank mounted on Tuesday after data showing that Germany’s manufacturing and service sectors contracted in April fuelled fears over the outlook for growth in the euro zone’s largest economy.
Financial stocks were mixed. In France, BNP Paribas slid 0.55% and Societe Generale advanced 0.67%, while in Germany, Deutsche Bank edged up 0.09% and Commerzbank declined 0.38%.
Among peripheral lenders, Spanish banks BBVA and Banco Santander plummeted 2.05% and 3.91%, while Italy's Unicredit and Intesa Sanpaolo added 0.10% and 0.88% respectively.
Elsewhere, Volvo surged 2.39% after saying truck orders rose 11% to 61,045 in the first quarter. However, the Swedish carmaker reported first-quarter operating profit of USD73 million, missing analysts’ estimates.
In London, FTSE 100 edged up 0.06%, after official data showed that the U.K. economy returned to growth in the first quarter, avoiding a triple-dip recession.
Shares in Rio Tinto and BHP Billiton turned lower, slipping 0.07% and 0.12% respectively, while Polymetal and Randgold Resources held gains, up 0.53% and 3.96%.
Meawhile, U.K. lenders were mixed, as shares in Lloyds Banking added 0.23% and the Royal Bank of Scotland gained 0.74%, while HSBC Holdings and Barclays retreated 0.68% and 1.08%.
Elsewhere, Unilever plummeted 2.18% after the consumer-goods company reported the slowest quarterly revenue growth in two years.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.29% rise, S&P 500 futures signaled a 0.25% gain, while the Nasdaq 100 futures indicated a 0.36% increase.
Later in the day, the U.S. was to produce the weekly government report on initial jobless claims.
During European afternoon trade, the EURO STOXX 50 added 0.07%, France’s CAC 40 eased up 0.06%, while Germany’s DAX 30 climbed 0.64%.
Official data showed that Spain's unemployment rate ticked up to 27.2% in the first quarter, from 26.0% in the previous quarter, compared to expectations for a rise to 26.5%.
Expectations for a rate cut by the European Central Bank mounted on Tuesday after data showing that Germany’s manufacturing and service sectors contracted in April fuelled fears over the outlook for growth in the euro zone’s largest economy.
Financial stocks were mixed. In France, BNP Paribas slid 0.55% and Societe Generale advanced 0.67%, while in Germany, Deutsche Bank edged up 0.09% and Commerzbank declined 0.38%.
Among peripheral lenders, Spanish banks BBVA and Banco Santander plummeted 2.05% and 3.91%, while Italy's Unicredit and Intesa Sanpaolo added 0.10% and 0.88% respectively.
Elsewhere, Volvo surged 2.39% after saying truck orders rose 11% to 61,045 in the first quarter. However, the Swedish carmaker reported first-quarter operating profit of USD73 million, missing analysts’ estimates.
In London, FTSE 100 edged up 0.06%, after official data showed that the U.K. economy returned to growth in the first quarter, avoiding a triple-dip recession.
Shares in Rio Tinto and BHP Billiton turned lower, slipping 0.07% and 0.12% respectively, while Polymetal and Randgold Resources held gains, up 0.53% and 3.96%.
Meawhile, U.K. lenders were mixed, as shares in Lloyds Banking added 0.23% and the Royal Bank of Scotland gained 0.74%, while HSBC Holdings and Barclays retreated 0.68% and 1.08%.
Elsewhere, Unilever plummeted 2.18% after the consumer-goods company reported the slowest quarterly revenue growth in two years.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.29% rise, S&P 500 futures signaled a 0.25% gain, while the Nasdaq 100 futures indicated a 0.36% increase.
Later in the day, the U.S. was to produce the weekly government report on initial jobless claims.