By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- European stock markets moved mostly
lower on Thursday, with shares of Pearson PLC and Nokia Oyj posting
some of the biggest losses after trading updates, and mining firms
declining after disappointing Chinese manufacturing data.
The Stoxx Europe 600 index fell 0.2% to 335.32, on track for its
first loss in three days.
Shares of Pearson slumped 8% after the publisher said it
continues to face tough trading this year.
Nokia (NOK) gave up 3.1% after the technology company reported a
fourth-quarter sales decline for its soon-to-be-transferred handset
business.
EasyJet PLC lost 2.6% after the budget airliner said it expects
to report a first-half pretax loss of between 70 million pounds
($116 million) and GBP90 million.
On a more upbeat note, shares of Delhaize Group SA rallied 8.1%
after the Belgian supermarket company said revenue rose in the
fourth quarter and it will continue to cut costs in 2014.
More broadly, investors weighed the latest round of purchasing
managers' indexes from the euro zone and China. The manufacturing
PMI for the currency union rose to a 32-month high in January,
beating analysts' expectations and providing further evidence the
region is recovering.
On a country-specific level, Germany's manufacturing PMI rose to
a 32-month high of 56.3, beating analyst expectations. France's
manufacturing sector continued to contract, albeit at a slower pace
than in December. A level above 50 signals expansion.
In China, the HSBC/Markit manufacturing PMI unexpectedly fell to
a six-month low of 49.6, indicating that the sector is contracting.
Mining firms in Europe declined after the data, as the industry is
sensitive to growth indications from China because the country is a
major user of natural resources.
Shares of Glencore Xstrata PLC (GLCNF) dropped 0.9%, while BHP
Billiton PLC (BHP) and Rio Tinto PLC (RIO) both fell 0.2%.
The U.K.'s FTSE 100 index lost 0.2% to 6,810.11. France's CAC 40
index was slightly lower at 4,323.50, and Germany's DAX 30 index
fell 0.2% to 9,699.53.
U.S. stock futures pointed to a lower open on Wall Street.
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