European shares are mixed shortly after midday Friday, as a collection of different concerns weighed on investor confidence, while some profit taking among miners also helped soften European indexes. Consumer-goods related stocks were another industry moving lower during the final day of the week.
By around 1255 BST, the EUROSTOXX 600 had lost 0.11%, while the EUROSTOXX 50 was 0.25% in positive territory. The German DAX was 0.29% in the red, although the French CAC was 0.33% higher and the Spanish IBEX had gained 0.18%.
As earnings season is now fully underway, some stocks have been at the mercy of those results.
Swedish mobile equipment maker Ericsson moved higher Friday after reporting better-than-expected results for the first three months of the year. Ericsson shares rose 16.27% to hit SEK64.60 as investors were impressed that the restructure is paying dividends.
ASML shares, however, were in the red as the Dutch semiconductor firm’s Q1 results failed to deliver and reported sales at the lower end of their guidance levels. ASML shares slid 1.87% to €157.75.
Further highlighting Friday’s mixed tone was a gain in Telia shares of 7.93% to €3.97 after the Swedish mobile operator raised its cashflow guidance.
Meanwhile, Shire shares dropped 4.39% to £3,800.50 after news Allergan isn’t planning to make a bid for the Irish-based business.
Other market drivers
Other details driving the European stock markets Friday are varied.
Among them are comments from Bank of England Governor that Brexit could delay any UK rate hikes. This view saw sterling lose ground and helped support stocks as they suddenly became cheaper after a period of a stronger British currency.
In addition, the recent surge in commodities prices eased off a little Friday, which encouraged some investors to take profits in miners. And, news from US firm Philip Morris that cigarette sales had plunged, weighed on the consumer-goods sector, too.