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) 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) 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) 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) 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) . 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.