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European stocks wobble amid mixed earnings reports

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The European equity markets reversed the initial gains and turned lower, as the oil price recovery appears to have faltered over the last hours. Moreover, weak Chinese CPI data released earlier on the day, also continue to weigh on investors’ minds.

    UK’s FTSE weighed down by miners, biggest loser

    The stocks on the European bourses ignored the risk-on rally seen in their Asian counterparts and now fluctuate between gains and losses as a series of mixed earnings results failed to sustain the upbeat moods around the regional indices.

    Among the corporate news, Air France jumped 6% after it posted first annual profit since 2008, while the German Deutsche Bourse rose over 3% after the company earned strong full-year revenues. The Swiss food-maker Nestle reported over 37% drop in its net income and weaker annual sales last year.

    Germany's DAX 30 index gained 0.10% to trade at 9,385, while the UK's FTSE 100 index dropped 0.65% to 5,992. Among the other indices, the French CAC 40 index trades muted around 4,230, while the pan-European Euro Stoxx 50 index erased losses and advanced 0.22% to 2,903.

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