Market Update
European markets trended flat to lower Thursday barring Spain where markets gained following strong services sector data.
The FTSE was unchanged. The CAC 40 Paris and the German DAX both slipped 0.1% each.
Investors are focused on the European Central Bank's policy decision later today with expectations for the apex bank to stick to its existing rates. ECB President Mario Draghi will hold a press briefing at 1230 GMT, or 8.45 a.m. Eastern Time, an hour after the announcement at the bank’s headquarters in Frankfurt.
Data also showed in France the country's services sector expanded for the first time in four months
Stocks on the Move
Vodafone PLC was down 0.6%. The Daily Telegraph reported today the company will invest 100 million pounds in 150 new retail stores over the next year as part of an effort to reduce its reliance on third parties.
Tullow Oil PLC was a big gainer, up over 5% after a broker upgrade.
Tate & Lyle was down 0.7% after it said it expects flat earnings for the year ended March 31, 2013.
Home improvement retailer Kingfisher PLC was up 2.3% after it said it is in talks to buy Mr Bricolage to expand its footprint into France.
Among banks, BNP Paribas was up 0.6% while SocGen edged up 0.3%.
Over in Frankfurt, Deutsche Bank AG fell 1.7% after a broker downgrade.