EUROPEAN STOCKS TURN IN ANOTHER MIXED PERFORMANCE

FRANKFURT, Feb 14 (Bernama-dpa-AFX) -- European stocks turned in a mixed performance for a third straight session, with investors mostly reacting to corporate earnings updates and regional economic data on Friday, reported dpa-AFX.

Soft inflation data from the United States (US) raised optimism about some monetary easing by the Federal Reserve and prompted some buying.

The pan-European Stoxx 600 ended down 0.13 per cent. The UK's FTSE 100 climbed 0.42 per cent and Germany's DAX ended 0.25 per cent up, while France's CAC 40 closed lower by 0.35 per cent. Switzerland's SMI gained 0.52 per cent.

Among other markets in Europe, Austria, Belgium, the Czech Republic, Greece, Iceland, Ireland, Norway, Poland, Portugal and Spain closed weak. Denmark, Finland, Netherlands and Russia ended higher. Sweden and Turkey closed flat.

In economic news, the euro area economy grew at a steady pace in the fourth quarter, matching the initial estimate, flash estimates from Eurostat showed. Gross domestic product rose 0.3 per cent sequentially, the same rate of growth as seen in the third quarter.

The rate matched the initial figure published on January 30. Year-on-year, GDP moved up 1.3 per cent, in line with the estimate, but weaker than the 1.4 per cent expansion seen a quarter ago.

Further, data on Friday showed that employment posted a stable increase of 0.2 per cent in the fourth quarter. On a yearly basis, employment rose 0.6 per cent, unchanged from the prior quarter.

The euro area trade surplus fell to €12.6 billion (US$14.9 billion) in December, from €13.9 billion (US$16.5 billion) in the previous year, separate data from Eurostat showed.

Exports increased 3.4 per cent from the previous year, offsetting the 3.4 per cent fall in November. Imports logged an annual growth of 4.2 per cent in December, reversing a 1.1 per cent fall seen a month ago.

Germany's wholesale prices logged a steady increase in January, figures from Destatis showed. The wholesale price index advanced 1.2 per cent year-on-year in January, the same pace of increase as seen in December.

On a monthly basis, wholesale prices moved up 0.9 per cent, in contrast to December's 0.2 per cent fall. Prices were expected to rise 0.1 per cent. 

--BERNAMA-dpa-AFX