10.45am Markets Update

Updated: Wednesday 23 April 2014 11.06

European shares edged lower this morning after strong gains in the previous session, pegged back following an earnings miss from Ericsson and weaker than expected French economic data.

London's FTSE inched four points (0.06%) lower to stand at 6,677 by 10.45am, while the Paris CAC was down 16 points (0.3%) to 4,468 and the Frankfurt DAX slipped 24 points (0.25%) to trade at 9,577.

Dublin's ISEQ index was flat this morning at 4,989. Shares in FBD Holdings rose 2% to €17.55, while Paddy Power gained 1.8% to €56.92. Providence Resources and Glanbia both saw gains of 1.5% to stand at €2.60 and €10.81 respectively in mid-morning trade.

Tokyo's Nikkei index closed 158 points (1%) higher at 14,546 in earlier trade while the Hang Seng index in Hong Kong lost 221 points (0.9%) to finish at 22,510 despite another rally on Wall Street and a survey showing a slight improvement in China's manufacturing activity in April.

US stocks rose on Wall Street last night as a host of solid earnings reports, along with strength in the healthcare sector, helped lift the S&P 500 and Nasdaq to their sixth advance in a row. The Dow Jones rose 65 points (0.4%) to close at 16,514, while the S&P 500 gained eight points (0.4%) to end at 1,879 and the Nasdaq Composite added 40 points (0.9%) to finish at 4,161.