European stock markets were mixed on Thursday amid a flurry of corporate earnings and better-than-expected U.K. GDP figures.
In London the FTSE 100 was recently up 0.02% at 6,959.34, recovering from early losses. The U.K. government's statistics agency said third-quarter GDP had expanded by 0.5%, well above the 0.3% predicted in the first quarterly period since the Brexit vote. Second-quarter growth was 0.7% and some analysts had originally expected economic contraction of 0.1% in the first three months after the referendum.
In Frankfurt the DAX fell 0.18% to 10,690.88 and in Paris the CAC 40 dropped 0.38% to 4,517.38.
U.S. futures slipped, with the Dow Jones mini and the S&P 500 mini down 0.06% and 0.08%, respectively, and the Nasdaq 100 mini down 0.07%.
The pound was down another 0.1% against the dollar, buying $1.2233 after an initial spike on the GDP data. U.K. 10-year government bond yields were recently up 8 basis points as the figures were perceived as making a rate cut next week by the Bank of England unlikely.
Deutsche Bank (DB) - Get Report rose more than 3% on the opening but was recently down marginally after reporting a surprise quarterly net profit and claiming progress in its restructuring, as well as core business gains. CEO John Cryan didn't say when the bank will settle a looming Department of Justice fine for the mis-sale of mortgage-backed securities before the credit crisis but said it was his "top priority."
Barclays (BCS) - Get Report was up 1.4% after beating quarterly earnings expectations as revenue rose more than expected and losses from its noncore business shrank. Also in London, Lloyds (LYG) - Get Report was up marginally after the government, through Morgan Stanley, sold shares on the market to take its stake below 9%.
And in Madrid Spanish lender BBVA was up 1% after better-than-forecast quarterly earnings.
Oil-sector equipment maker Amec Foster Wheeler plunged 18% in London after it postponed an investor event and said it needed to work time to work on its restructuring.
Nokia (NOK) - Get Report was down almost 7% as better-than-expected third-quarter profit failed to ease worries that it is suffering similar problems to more-troubled rival Ericsson (ERIC) - Get Report . In its third quarter Nokia's fixed-network equipment sales offset weakness in the supply of mobile equipment, which is a problem area for Ericsson right now. The company also said its CFO was leaving.
Volkswagen (VLKAY) rose marginally after it said full-year sales would match last year's level instead of falling by up to 5%. The company took another €400 million ($436 million) of provisions related to "dieselgate" in the third quarter.
Spanish telecom Telefonica fell 4% after it said it would cut its dividend for this year and next after in an effort to cut its roughly €50 billion of debt.
Statoil (STO) was up 2% after it missed production and earning targets for the third quarter but said it had found another $1 billion to cut from spending.
Asian stocks closed on Thursday overwhelming in the red following losses on Wall Street and earnings news including a report of a 17% third-quarter profit slump from Galaxy smartphone maker Samsung Electronics. (SSNLF) The Nikkei 225 was down 0.32% at 17,336.42, the Hang Seng down 0.93% at 23,109.24 and the CSI 300 composite index was down 0.28% at 3,345.30.