3pm Markets Update
US retail shares were under pressure in opening trade on Wall Street, pushing the Dow and S&P 500 lower, after Walmart reported disappointing fourth-quarter earnings.
Dow component Walmart sank 8.9% after reporting a 42.1% drop in quarterly earnings to $2.2 billion. Investors were rattled by slowing growth in e-commerce sales by the world's biggest retailer.
About 15 minutes into trading, the Dow Jones was down 0.3% at 25,137, while the broad-based S&P 500 shed 0.1% to stand at 2,728 and the tech-rich Nasdaq Composite index added 0.1% to trade at 7,249.
European shares continued to see mixed trading this afternoon, with banks falling after HSBC reported weaker than expected earnings.
London's FTSE had slipped 16 points (0.2%) to stand at 7,232 by 3pm, while the Paris CAC was up 25 points (0.5%) to 5,281 and the Frankfurt DAX added 51 points (0.4%) to trade at 12,436.
Dublin's ISEQ index was flat this afternoon, inching a point (0.01%) higher to stand at 6,798. Shares in Green REIT gained 2% to €1.56 after it reported a 20% increase in half yearly pre-tax profits, while CRH rose 1.5% to €28.18. Ahead of its annual results tomorrow, shares in Glanbia fell 0.3% to €14.66 while Kerry Group slumped 4.7% to €81.75 as it reported a drop in profits at its consumer foods division.
Earlier in Asian trade, Tokyo's Nikkei index lost 224 points (1%) to close at 21,925 with exporters suffering from a firm yen as investors looked for fresh trading clues. The Hang Seng index in Hong Kong dropped 242 points (0.8%) to finish at 30,874 following a subdued day of trading after the Lunar New Year holiday.