By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- European stock markets struggled for direction on Tuesday, as investors opted to stay on the sidelines ahead of the delayed U.S. nonfarm-payrolls report due later in the day.
The Stoxx Europe 600 index was flat at around 319.55, after closing in positive territory for an eighth straight day on Monday.
Several Scandinavian firms were among biggest movers in the pan-European index, with shares of Tele2 AB sinking 9.4% after the Swedish telecoms firm said it swung to a loss in the third quarter and cut its long-term financial guidance.
Swedbank AB climbed 4.9% after the bank posted an increase in third-quarter profit, boosted by rising net interest-income. It also said there are signs that the global economy is improving.
And in Oslo, Gjensidige Forsikring ASA rallied 7.7% after the insurance firm posted a 6% rise in third-quarter earnings per share.
More broadly, investors focused on the U.S. where the nonfarm-payrolls data and unemployment rate for September were slated to come out at 1:30 p.m. in London, or 8:30 a.m. Eastern Time. The report was scheduled to come out at the beginning of October, but was delayed due to the government shutdown last week. Economists polled by MarketWatch expect 185,000 jobs were added to the economy in September, while the joblessness rate is forecast to remain at 7.3%.
"With the view that Fed tapering has been kicked in to the long grass of next spring at the earliest firming up amongst market participants, and the fact that this data is a bit stale, this is one of the few occasions where a strong number won't do any damage to the dovish monetary environment the bulls keep latching onto," said Jonathan Sudaria, dealer at London Capital Group, in a note.
"Likewise, any weak figure could be shrugged off as focus would move to the post-shutdown payrolls in three weeks for a more accurate assessment of the economy," he added.
U.S. stock futures pointed to a flat open on Wall Street.
In Europe, France's CAC 40 index was slightly lower at 4,275.74, while Germany's DAX 30 index fell 0.1% to 8,858.91.
The U.K.'s FTSE 100 index gained 0.1% to 6,663.11.
BHP Billiton PLC (BHP) climbed 2.7% in London after the miner raised its outlook for full-year iron-ore production, signaling confidence that China's rapid industrialization will continue to lift demand for natural resources.
Shares of ARM Holdings PLC (ARMHY) dropped 3.8%, even as the microchip designer posted a rise in third-quarter profit.
Outside the major indexes, shares of Novartis AG added 1.1% after the drug maker raised its full-year outlook for the second consecutive quarter after a generic version of its blockbuster blood-pressure drug was delayed.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 22, 2013 04:22 ET (08:22 GMT)Copyright (c) 2013 Dow Jones & Company, Inc.
|EUROPE MARKETS: European Stocks Slip Ahead Of Euro-zone, U.S. Data ()|
|EUROPE MARKETS: Europe Stocks Dip Ahead Of Big U.S. Data, Minutes (2013/11/20)|
|EUROPE MARKETS: Europe Stock Gains Ease Some After U.S. Jobs (2014/1/10)|
|EUROPE MARKETS: European Stocks Waver Ahead Of Euro-zone Growth Data ()|
|EUROPE MARKETS: Europe Stocks Slip Ahead Of Fed Policy View (2014/3/19)|
|EUROPE MARKETS: Europe Stocks Seesaw Ahead Of Fed Policy View (2014/3/19)|
|EUROPE MARKETS: Europe Stocks Slide Ahead Of ECB Meeting (2013/10/2)|
|Europe stocks wobble ahead of U.S. jobs data ()|
|UPDATE: Europe stocks weak ahead of U.S. jobs, homes data (2013/9/26)|
|Europe stocks weak ahead of U.S. jobs, homes data ()|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.