Investing.com - European stocks were steady to higher on Thursday, after the release of disappointing euro zone data, ans as markets awaited a U.S. decision on a potential diplomatic solution to deal with Syria.
During European afternoon trade, the EURO STOXX 50 dipped 0.01%, France’s CAC 40 shed 0.32%, while Germany’s DAX 30 slipped 0.11%.
Eurostat said industrial production in the euro area fell 1.5% in July, worse than expectations for a 0.1% decline. The report said industrial production fell 2.1% compared to a year earlier, more than forecasts for a 0.1% decline.
The weak data reinforced concerns over the economic outlook for the euro zone. Last week, European Central Bank President Mario Draghi reiterated that bank rates will stay at current or lower levels for an extended period to help shore up the recovery.
Markets were also focusing on developments on the Syrian front, as U.S. Secretary of State John Kerry and his Russian counterpart Sergei Lavrov were to meet in Geneva later in the day to discuss Moscow's suggestion that Syria surrender its chemical weapons to international control.
Financial stocks turned mostly lower, as French lenders BNP Paribas and Societe Generale slid 0.28% and 1.09%, while Germany's Deutsche Bank fell 0.13%.
Among peripheral lenders, Italian banks Intesa Sanpaolo and Unicredit tumbled 0.92% and 1.69% respectively, while Spain's BBVA and Banco Santander outperformed, adding 0.13% and 0.44%.
Elsewhere, Vivendi surged 2.34% amid reports it moved closer to a long-discussed plan to split its telecommunications business from media assets.
In London, FTSE 100 edged down 0.07%, even as Bank of England Governor Mark Carney said the U.K. economy is picking up as a result of the bank’s stimulus program.
Financial erased earlier gains, as shares in Barclays dipped 0.02% and HSBC Holdings eased 0.08%, while the Royal Bank of Scotland slipped 0.25% and Lloyds Banking retreated 0.68%.
Mining stocks also turned mostly lower, with Glencore Xstrata shedding 0.56% and Randgold Resources down 1.66%, while Vedanta Resources plummeted 1.93%.
Among pharmaceuticals, GlaxoSmithKline and partner Theravance's lung drug Anoro this week won the backing of a U.S. advisory panel, which augurs regulatory approval by December, paving the way toward the highest number of new drug approvals in the U.S. this year.
Glaxo shares were up 0.65% following the news.
In the U.S., equity markets pointed to a mixed to lower open. The Dow Jones Industrial Average futures pointed to a 0.08% loss, S&P 500 futures signaled a 0.12% fall, while the Nasdaq 100 futures indicated a 0.01% gain.
The U.S. was to release data on jobless claims.
During European afternoon trade, the EURO STOXX 50 dipped 0.01%, France’s CAC 40 shed 0.32%, while Germany’s DAX 30 slipped 0.11%.
Eurostat said industrial production in the euro area fell 1.5% in July, worse than expectations for a 0.1% decline. The report said industrial production fell 2.1% compared to a year earlier, more than forecasts for a 0.1% decline.
The weak data reinforced concerns over the economic outlook for the euro zone. Last week, European Central Bank President Mario Draghi reiterated that bank rates will stay at current or lower levels for an extended period to help shore up the recovery.
Markets were also focusing on developments on the Syrian front, as U.S. Secretary of State John Kerry and his Russian counterpart Sergei Lavrov were to meet in Geneva later in the day to discuss Moscow's suggestion that Syria surrender its chemical weapons to international control.
Financial stocks turned mostly lower, as French lenders BNP Paribas and Societe Generale slid 0.28% and 1.09%, while Germany's Deutsche Bank fell 0.13%.
Among peripheral lenders, Italian banks Intesa Sanpaolo and Unicredit tumbled 0.92% and 1.69% respectively, while Spain's BBVA and Banco Santander outperformed, adding 0.13% and 0.44%.
Elsewhere, Vivendi surged 2.34% amid reports it moved closer to a long-discussed plan to split its telecommunications business from media assets.
In London, FTSE 100 edged down 0.07%, even as Bank of England Governor Mark Carney said the U.K. economy is picking up as a result of the bank’s stimulus program.
Financial erased earlier gains, as shares in Barclays dipped 0.02% and HSBC Holdings eased 0.08%, while the Royal Bank of Scotland slipped 0.25% and Lloyds Banking retreated 0.68%.
Mining stocks also turned mostly lower, with Glencore Xstrata shedding 0.56% and Randgold Resources down 1.66%, while Vedanta Resources plummeted 1.93%.
Among pharmaceuticals, GlaxoSmithKline and partner Theravance's lung drug Anoro this week won the backing of a U.S. advisory panel, which augurs regulatory approval by December, paving the way toward the highest number of new drug approvals in the U.S. this year.
Glaxo shares were up 0.65% following the news.
In the U.S., equity markets pointed to a mixed to lower open. The Dow Jones Industrial Average futures pointed to a 0.08% loss, S&P 500 futures signaled a 0.12% fall, while the Nasdaq 100 futures indicated a 0.01% gain.
The U.S. was to release data on jobless claims.