Credit: Investing.com -
Investing.com - European stocks were steady to higher on Wednesday, as markets awaited a report on German business climate due later in the day and as optimism sparked by Tuesday's upbeat data continued to support.
During European morning trade, the EURO STOXX 50 eased up 0.01%, France's CAC 40 dipped 0.07%, while Germany's DAX 30 inched up 0.07%.
European equities found support on Tuesday after research group Markit said that its composite purchasing managers index, which measures activity in the manufacturing and services sectors, rose to 46-month high of 54.1 in March from 53.3 in February.
Germany's private sector expanded at the fastest rate in eight months, but growth in France's private sector eased this month.
Investors also continued to focus on developments in Greece after a government spokesman said on Tuesday that Athens will present a detailed list of proposed overhauls to its eurozone partners by next Monday.
Financial stocks were mixed, as BNP Paribas (PARIS:BNPP) slipped 0.11% and Societe Generale (PARIS:SOGN) added 0.19% in France, while Deutsche Bank (XETRA:DBKGn) edged down 0.15% and Commerzbank (XETRA:CBKG) rallied 1.82% in Germany.
Among peripheral lenders, Intesa Sanpaolo (MILAN:ISP) rose 0.28% and Unicredit (MILAN:CRDI) fell 0.12% in Italy, while BBVA (MADRID:BBVA) eased up 0.05% and Banco Santander (MADRID:SAN) slid 0.25% in Spain.
Elsewhere, Accor (PARIS:ACCP) plunged 3.59% after Eurazeo (PARIS:EURA) sold 11 million shares in the hotel chain for €48.75 apiece.
Hermes International (PARIS:HRMS) added to losses, with shares tumbling 1.45% after the luxury retailer said its 2014 operating income came in below analysts' estimates.
In London, FTSE 100 edged up 0.15%, led by IAG (LONDON:ICAG), up 2% amid reports talks with the U.K. government continued this week after the rejection of the airline company's proposed bid for Aer Lingus several weeks ago.
Financial stocks were also mostly higher, as Lloyds Banking (LONDON:LLOY) edged up 0.08% and the Royal Bank of Scotland (LONDON:RBS) gained 0.66%, while HSBC Holdings (LONDON:HSBA) advanced 0.99%.
Barclays (LONDON:BARC) underperformed on the other hand, tumbling 1.04% after the lender's CEO Antony Jenkins warned on Tuesday that the banking sector has yet to feel the "full disruptive force of technology" that has rattled other consumer-facing industries.
Mining stocks were also on the upside. Shares in Randgold Resources (LONDON:RRS) gained 0.55% and Rio Tinto (LONDON:RIO) climbed 0.80%, while rival company Fresnillo (LONDON:FRES) rallied 1.41%
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.04% uptick, S&P 500 futures signaled a 0.08% gain, while the Nasdaq 100 futures indicated a 0.12% rise.
Later in the day, the Ifo Institute was to report on German business climate, while the U.S. was to publish data on durable goods orders.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
