European stock markets are trading mixed,
European stock markets are trading mixed, with the DAX bouncing back from post data lows and up 0.50% near record highs for the year as the Easter rally continued. The CAC also recovered early losses and as of 10:30GMT was up 0.21%, despite Eurozone PMI readings showing ongoing weakness especially in the German manufacturing sector. Hopes that the weak numbers will keep the ECB on hold for longer and a weaker EUR may have helped stocks to recover, and in contrast to the 0.52% rise in the Euro Stoxx 50, the FTSE 100 is down -0.13%, despite stronger than expected retail sales numbers for March and the first quarter. Overall then sentiment started to stabilise during the European AM session, after a largely weaker close in Asia overnight, where investors switched stocks for bonds after a negative close on Wall Street and amid lacklustre earning reports. Kospi and Kosdaq underperformed after the BoK left interest rates unchanged, but cut its growth and inflation forecast to now 2.5% and 1.1% respectively. Record household debt was one of the factors holding the BoK back from cutting rates for now. Topix and Nikkei lost -0.96% and -0.84% respectively, the Hang Seng was down -0.54% at the close and the CSI 300 down -0.37%. U.S. futures are up from overnight lows, but the Dow Jones mini is still down -0.16% as of 10:41GMT. The front end WTI future meanwhile is trading at USD 63.72 per barrel.