European Stocks Are Trading Mixed Following U.S. Selloff

LONDON ( The Deal) -- European markets were mixed after Thursday's late slump, with many analysts still puzzling over whether it was the prospect of a sooner-than-expected rise in U.S. or U.K. interest rates, rising geopolitical tensions or the unexpected flexibility of Apple's ( AAPL) latest phone that sparked the change of mood.

Paris spent the morning in positive territory, as the market awaited U.S. growth figures Friday and took heart from the latest French consumer confidence indicator. The French statistics agency Insee reported consumer confidence was stable in September. But London and Frankfurt were in a less cheerful mood. Frankfurt, which always has its eye on what is happening to the East, was shaken by the news that Hungary will stop supplying fuel to Ukraine, following a visit to the country by a delegation from the Russian gas monopoly Gazprom. Germany's own consumer confidence figures showed a different story too, with a local survey coming in below economists' expectations.

Meanwhile in London, the market was hit by profit warnings from, among others, banknote and passport printer De La Rue (DELRF) , and waste management company Shanks Group. De La Rue fell nearly 30% to 537 pence after it warned on input prices and competition pressures and said it would likely cut its dividend. Shanks was down 16% at 86.25 after warning the outlook for its business in Belgium and the Netherlands remained bleak and cutting its full year forecast by 15%.

Telco Telecom Italia was still up Friday morning after Thursday's surge on a rumored $9.6 billion approach from former Telstra and U.S. West Communications chief Sol Trujillo.

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