LONDON (ShareCast) - European stocks finished mixed after US job figures for October came in weaker-than-expected unsettling investors.
October non-farm payrolls data showed the US unemployment rate rose to 10.2% from 9.8% in September. The number
of jobs lost in October was 190,000, versus expectations of 175,000 job losses.
Across the markets, the German DAX squeezed out a 7 point gain to 5488, with the French CAC falling 1 points to 3706.
Airlines including Germany's Lufthansa (Xetra: 823212 - news) and British Airways (LSE: BAY.L - news) went well. British Airways reported a record loss of £292m and urged Unite to withdraw its plans for a strike ballot and resume talks with the carrier.
The loss before tax of £292m, or £244m before restructuring costs, compares with a profit of £52m last year. Revenue was down 13.7% to £4.1bn. Net losses came to £208m.
Banks were also on the rise. Credit Agricole (ACA.NX - news) , Societe Generale (GLE.NX - news) and BNP Paribas (BNP.NX - news) are among the best performers in France. More huge write-offs sent Royal Bank of Scotland (LSE: RBS.L - news) deep into loss over the past three months.
The state-controlled bank, which on Tuesday announced another £33bn cash injection from the government, lost £2.1bn in the three months to September compared to a profit of £1.9bn. Nine-month losses now total £2.06bn against a profit £1.8bn this time last year.
German reinsurance firm Hannover Re swung to a third-quarter net profit of €159.4m compared with a loss of €395m.
On the downside, building materials group Lafarge (LG.NX - news) is lower after it saw its third-quarter net income fall 38% to €404m as revenue dropped 20% to €4.3bn.
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