European stocks off to mixed start

European stock markets got off to a mixed start today as dealers mulled the latest batch of quarterly results and a late downturn…

European stock markets got off to a mixed start today as dealers mulled the latest batch of quarterly results and a late downturn in US share prices.

In London, the FTSE 100 index gave up 0.21 per cent to 5,855.9 points.

The Frankfurt DAX 30 index slipped 0.07 per cent to 6,119.47 points.

But the Paris market dipped 0.07 per cent, leaving the CAC 40 index at 5,503.29 points.

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The euro-zone Stoxx 50 barometer dipped 0.39 per cent to 4,388.28 points. While the euro was changing hands for 0.9021 dollars.

Markets tracked a late downturn on Wall Street after the close of European trade, which left the Nasdaq technology index 1.2 per cent lower while the Dow Jones industrials clung to a 0.6-per cent gain.

Investors in Tokyo locked in profits after a three-day winning streak, leaving the Nikkei-225 index 0.3 per cent weaker. Hong Kong share prices gained 0.7 per cent.

The latest quarterly results from Europe's leading companies produced mixed results.

British-Dutch food group Unilever beat analyst forecasts with first-quarter net profit before exceptionals of 702 million euros (631.8 million dollars), down four per cent from the previous year.

The results lifted the group's share price 2.2 per cent to 519 pence in London.

But shares in German airline Lufthansa fell 5.8 per cent to 19.93 euros after the company posted late yesterday a 95-per cent plunge in first-quarter operating profit.

British Airways dropped 1.9 per cent to 321.75 pence in sympathy.

Market heavyweight Vodafone led the London market lower on negative broker comment, easing 1.9 per cent to 206.75 pence.

AFP