GLOBAL MARKETS-IBM, China data weigh on shares; U.S. yields rise

Tue Oct 20, 2015 12:09pm EDT
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* U.S. shares little changed after mixed quarterly reports

* European shares slip a day after weak China data

* Treasury yields rise on strong U.S. housing starts data

* Euro rises against dollar on ECB officials' comments (Adds U.S. markets open, byline, dateline; previous LONDON)

By Sam Forgione

NEW YORK, Oct 20 (Reuters) - U.S. Treasury yields rose on Tuesday on signs of improvement in the U.S. housing market, while Wall Street was mostly lower as IBM shares dropped on weak results.

IBM fell 5.5 percent, putting a damper on the benchmark U.S. S&P 500 index and the Dow, a day after reporting a bigger-than-expected fall in quarterly revenue. Gains in Verizon and United Technologies after strong results helped offset IBM's drop.

European mining and energy stocks declined in the aftermath of weak data from China on Monday, which showed growth in the world's leading consumer of metals was the slowest since the global financial crisis. Traders also said European shares fell as investors took profits in the absence of anything to justify extending recent gains.

"There is still the legacy of the weak Chinese data that is hanging over parts of the market today," said Hantec Markets' analyst Richard Perry. Traders also awaited a European Central Bank meeting this week.   Continued...