Stocks mixed tracking data, China regulation

LONDON: Stocks markets were little changed Thursday as traders reacted to data on both sides of the Atlantic and China's plans to tighten regulation across more sectors.

Europe's main indices varied by small amounts in midday trade following news that Britain's economy rebounded 4.8 percent in the second quarter as it started to emerge from lockdown.

Asian equities closed mostly lower as China signalled additional anti-monopoly rules and penalties over the next five years.

The dollar held firm as news of cooling US inflation eased concerns about the prospect of higher interest rates in the short term, in turn helping Wall Street to reach new record highs Wednesday.

Oil prices flattened as the International Energy Agency said global crude demand was expected to grow slower than previously forecast this year with the spread of Covid's Delta variant prompting fresh lockdowns.

Stocks have had a largely positive week after a recent run of pressure caused by concerns about the fast-spreading Delta variant.

But Asian stocks took a slight hit Thursday after guidelines published by the Chinese Communist Party's top decision-making body called for "centralised special rectification" -- propaganda speak for further government intervention.

European stocks steady on strong earnings, M&A activity

Sectors including finance, public health, education and food and drug manufacturing would be targeted, the guidelines said.

A regulatory crackdown on Chinese sectors ranging from tech to education had already roiled markets in recent months.

OANDA's Jeffrey Halley said the reason that Asian stock market losses Thursday had not been so steep might be because "investors are being more accepting of the 'new normal'".

On Wall Street, the Dow and S&P 500 finished at all-time highs Wednesday, buoyed by data showing US inflation cooling.

"For now, the movement in stock markets shows that investors are considering the improvement, or at the very least a stoppage, in the rapid rise of consumer prices," noted Naeem Aslam, chief market analyst at Avatrade.

Key figures around 1030 GMT

London - FTSE 100: DOWN 0.1 percent at 7,210.38 points

Frankfurt - DAX 30: UP 0.3 percent at 15,878.14

Paris - CAC 40: UP 0.1 percent at 6,865.71

EURO STOXX 50: UP 0.3 percent at 4,216.77

Tokyo - Nikkei 225: DOWN 0.2 percent at 28,015.02 (close)

Hong Kong - Hang Seng Index: DOWN 0.5 percent at 26,517.82 (close)

Shanghai - Composite: DOWN 0.2 percent at 3,524.74 (close)

New York - Dow: UP 0.6 percent at 35,484.97 (close)

Euro/dollar: DOWN at $1.1739 from $1.1743

Pound/dollar: DOWN at $1.3857 from $1.3866

Euro/pound: UP at 84.71 pence from 84.67 pence

Dollar/yen: FLAT at 110.43 yen

Brent North Sea crude: UP 0.1 percent at $71.50 per barrel

West Texas Intermediate: FLAT at $69.26 per barrel