European Stocks Waver With Bernanke In Focus

European stock markets struggled for direction in early action on Thursday, ahead of U.S. Federal Reserve Chairman Ben Bernanke’s second day of testimony before Congress. The Chairman spoke Wednesday to the House Financial Services Committee and stressed that the central bank will be very responsive to economic data when considering a reduction in its asset purchases.

The Stoxx Europe 600 index was slightly lower at 296.99, after adding 0.6% on Wednesday. Shares of Akzo Nobel NV slumped 5.7% after the paints company reported a drop in second-quarter operating income. Shares of Ericsson LM dropped 4.5% after second-quarter profit missed expectations. Among country-specific indexes, the U.K.’s FTSE 100 index climbed 0.3% to 6,587.08 and France’s CAC 40 index rose 0.2% to 3,878.52. Germany’s DAX 30 index slipped 0.1% to 8,242.88.

Source : Marketwatch