European stocks mixed, British recovery in focus

LONDON: European stock markets traded mixed Wednesday, with London sliding after a bigger-than-expected drop in British unemployment takes it close to the central bank’s threshold to begin raising interest rates.
London’s FTSE 100 index of top companies dipped 0.02 per cent to stand at 6,833.12 points in afternoon deals. The euro rose against the dollar.
Meanwhile the European single currency rose to $1.3574 from $1.3559 late Tuesday in New York. The dollar rose to 104.41 yen from 104.32.
Gold prices edged up to $1,239.50 an ounce from $1,238 Tuesday on the London Bullion Market.
Meanwhile: Asian markets closed mostly higher Wednesday, with Tokyo reversing early losses after the Bank of Japan said it was winning the war against deflation and delayed injecting fresh stimulus into Asia’s number two economy.
The yen saw a brief rally before easing again after Japan’s central bank decided to refrain from adding to its already-huge asset buying programme following a two-day policy meeting.
Meanwhile: US stocks opened mixed Wednesday following the latest batch of mediocre fourth quarter corporate earnings reports.
Five minutes into trade, the Dow Jones Industrial Average declined 0.10 percent to 16,397.68 points, the broad-based S&P 500 rose 0.13 per cent to 1,846.18, while the tech-rich Nasdaq Composite Index gained 0.19 per cent to 4,233.85.