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Global Stocks Wobble on Mixed Earnings

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07/26/2019 | 05:15am EDT

By Lauren Almeida

-- Crude prices tick higher

-- McDonald's and Twitter earnings due

European stocks wavered after a downbeat session in Asia on Friday, following a series of mixed earnings reports.

The Stoxx Europe 600 was up 0.1%, with gains for media companies largely offset by losses in the basic resources sector.

Sopra Steria, an information technology consulting firm, was one of the biggest risers with a gain of 11% after it reported strong first-half earnings. Kering, the luxury group, dropped 8% after its Gucci brand missed second-quarter sales expectations.

In the U.K, the pound slipped 0.2% as the risk of a no-deal Brexit rose, after European Union officials reiterated that the current divorce agreement couldn't be renegotiated.

Asian stocks wavered, with stocks in Shanghai up 0.2%, Hong Kong's Hang Seng down 0.7% and Japan's Nikkei down 0.5%.

Car maker Nissan's shares dropped 3.2% Friday after the company said Thursday it would cut 9% of its global workforce following a profit drop in the latest quarter.

In the U.S., the yield on 10-year Treasurys was nearly unchanged at 2.077%, from 2.078% Thursday. Yields rise when bond prices fall.

On the earnings front, McDonald's and Twitter will report today, as will biopharmaceutical company AbbVie.

Amazon.com fell in after-hours trading by 1.6% after its earnings report brought an end to its record quarterly profit streak. Alphabet's shares jumped 8.3% after-hours on the back of strong profits.

U.S. gross domestic product data for the second quarter are due later Friday, which will give an indication of the resilience of American consumers during a period of slowing global growth.

In commodities, global oil benchmark Brent crude was up 0.4% to $63.50 a barrel. Gold gained 0.2%.

Write to Lauren Almeida at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
HANG SENG -0.89% 28121.32 Real-time Quote.9.79%
NIKKEI 225 -0.19% 21616.8 Real-time Quote.8.70%
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