The European equity markets are mostly lower in afternoon action, coming off of yesterday's advance that took the Stoxx Europe 600 Index to a six-year high, with traders digesting the mixed earnings reports in the U.S. However, U.K. stocks are trading modestly higher, following a solid gain in shares ofHome Retail Group Plc. (HMRTY $13) after the company reported upbeat same-store sales for the holiday shopping season. Also, U.K. stocks are finding some support from a report showing the nation's home prices remained near decade highs for December, per Bloomberg, and as Bank of England Governor Mark Carney offered comments yesterday suggesting the upward momentum for housing will continue this year. Meanwhile, stocks in the region are shrugging off a solid gain in eurozone new car registrations for December, as well as a favorable three-year debt auction in Spain, which saw the nation's borrowing costs fall to record lows, per Bloomberg.
The UK FTSE 100 Index is up 0.1%, France's CAC-40 Index is down 0.2%, Germany's DAX Index is dipping 0.1%, Spain's IBEX 35 Index is declining 0.3%, Italy's FTSE MIB Index is trading 0.4% lower, and Switzerland's Swiss Market Index is gaining 0.3%.
Stocks in Asia finished mixed following yesterday's gains, as Japan's Nikkei 225 Index declined 0.4%, despite some continued weakness in the yen and a report showing the nation's machine orders rose more than expected in November. Elsewhere, China's Shanghai Composite finished flat, as lingering concerns about the dilutive impact of a flood of initial public offerings (IPOs) that are set to hit the market offset a stronger-than-estimated read on the nation's foreign direct investment for December. Moreover, India's S&P BSE Sensex 30 Index dipped 0.1%, pulling back from yesterday's five-week highs. However, Australia's S&P/ASX 200 Index rallied 1.2% despite an unexpected drop in the country's employment change for December, which appeared to have fostered some expectations that the Reserve Bank of Australia may ease monetary policy further. Finally, South Korea's Kospi Index rose 0.2% and the Hong Kong Hang Seng Index gained 0.4%.
Source: Schwab
The UK FTSE 100 Index is up 0.1%, France's CAC-40 Index is down 0.2%, Germany's DAX Index is dipping 0.1%, Spain's IBEX 35 Index is declining 0.3%, Italy's FTSE MIB Index is trading 0.4% lower, and Switzerland's Swiss Market Index is gaining 0.3%.
Stocks in Asia finished mixed following yesterday's gains, as Japan's Nikkei 225 Index declined 0.4%, despite some continued weakness in the yen and a report showing the nation's machine orders rose more than expected in November. Elsewhere, China's Shanghai Composite finished flat, as lingering concerns about the dilutive impact of a flood of initial public offerings (IPOs) that are set to hit the market offset a stronger-than-estimated read on the nation's foreign direct investment for December. Moreover, India's S&P BSE Sensex 30 Index dipped 0.1%, pulling back from yesterday's five-week highs. However, Australia's S&P/ASX 200 Index rallied 1.2% despite an unexpected drop in the country's employment change for December, which appeared to have fostered some expectations that the Reserve Bank of Australia may ease monetary policy further. Finally, South Korea's Kospi Index rose 0.2% and the Hong Kong Hang Seng Index gained 0.4%.
Source: Schwab
