- Stocks mixed as range trading persists
- European summit this afternoon
and crude little changed
- Light data calendar
FTSE 100: 0.01%
CAC 40: -0.08%
FTSE MIB: -0.16%
IBEX 35: 0.30%
Stoxx 600: 0.11%
Stocks were holding near the flat line come midday, bolstered by Wall Street's resilience last night to the release of a much weaker than expected reading on first quarter gross domestic product Stateside.
A widely heard qualm from traders is that volatility in most financial assets has been made dormant by central bankers' blanket of liquidity. Hence the recent range bound trading to be seen in equities, currencies and sovereign debt markets.
As if on cue, today's Financial Stability Review from the Bank of England has been greeted as a fair bit less strict than some had feared, although it must be noted that Governor Carney disassociated the decision from ordinary monetary policy.
Acting as a backdrop, the Iraqi PM confirmed that Syrian jets have attacked the ISIS militants which had gained control of the border town of Qaim.
In European news, the European Council is to meet on Thursday and is expected to focus on the choice of the next EC President. Country-specific recommendations as part of the 2014 European semester are also due to be finalised.
Banks under scrutiny
French lender BNP Paribas may be suspended from converting foreign exchange
into dollars in some of its business units, according to sources familiar with the matter cited by Reuters.
A complaint has been filed by the New York State Attorney General against Barclays's Alternative Trading System, LX Liquidity Cross. The allegations, which include fraud and "deceptive practices", follow an investigation by the Attorney General.
Chip-makers Dialog Semiconductor Plc and AMS AG were higher after announcing that they are exploring a merger.
Shipping group Hapag Lloyd is planning further takeovers. "This industry is crying out for consolidation," the company's Chief Executive Officer said yesterday.
From a sector stand-point the largest gains are now being seen in the following industrial sectors within the DJ Stoxx 600: Financial services (1.16%), Telecommunications (0.87%) and Travel&Leisure (0.67%).
Light data calendar
INSEE's French consumer confidence index for the month of June advanced to 86 points, from a reading of 85 for the prior month (consensus: 85).
French jobseekers data will be released later in the afternoon.
Crude futures, euro largely unchanged
The euro/dollar is off just slightly, by 0.12% at $1.3613.
Front month Brent crude futures are now down by 0.317% to the $113.64/barrel mark on the ICE.