* European shares snap six-day winning streak
* Oil slumps as Libya restarts oilfields
* Wall St edges up on earnings
(Updates with close of European markets)
By Chuck Mikolajczak
NEW YORK, April 27 A gauge of world stock
markets was little changed on Thursday as a three-day rally
stalled in the wake of a largely expected U.S. tax cut plan,
while the euro weakened after comments from European Central
Bank President Mario Draghi.
On Wall Street, stocks edged higher as investors focused on
a stream of solid earnings reports after a lukewarm reception
for U.S. President Donald Trump's tax plan unveiled on
Wednesday, some of the details of which were largely expected by
Corporate earnings continue to show strong results for the
quarter. Comcast, up 2.8 percent, was the top boost to
the benchmark S&P 500 index after reporting results.
"The market is focused more on growth and earnings now than
what is coming out of the administration," said Ryan Caldwell,
chief investment officer at Chiron Investment Management.
"It is good to see they are looking at taxes, and it's good
to know they are aggressive, but the implementation looks more
like an end-of-the-year event."
Microsoft, Amazon.com and Google parent
Alphabet are scheduled to report results after the
closing bell on Wall Street. First-quarter earnings are expected
to show growth of 12.4 percent, the best since 2011, according
to Thomson Reuters data.
U.S. economic data showed new orders for U.S.-made capital
goods rose less than expected in March, but a second straight
monthly increase in shipments suggested business investment
accelerated in the first quarter.
The Dow Jones Industrial Average rose 13.02 points,
or 0.06 percent, to 20,988.11, the S&P 500 gained 2.06
points, or 0.09 percent, to 2,389.51 and the Nasdaq Composite
added 21.19 points, or 0.35 percent, to 6,046.41.
Europe's main bourses closed lower after falling as much as
0.5 percent as traders pulled back after a six-session winning
streak on relief at the outcome of the first round of France's
presidential election and encouraging earnings.
The pan-European FTSEurofirst 300 index lost 0.23
percent and MSCI's gauge of stocks across the globe
shed 0.06 percent to edge down from a record.
As widely expected, the ECB made no changes to its record-
low interest rates or stimulus program. But euro zone government
bond yields and the euro fell after Draghi said policymakers did
not discuss removing the bank's easing bias on monetary policy
at this month's meeting.
The benchmark 10-year Bund yield was last down
almost 5 basis points at 0.303 percent. The euro was down
0.24 percent to $1.0877 against the dollar.
After weakening against the greenback on Wednesday, the
Canadian dollar and Mexican peso went in opposite
directions after the U.S. said it would not scrap the North
American Free Trade Agreement (NAFTA).
The Mexican peso strengthened 0.59 percent versus the U.S.
dollar at 19.07, while the Canadian dollar weakened 0.14 percent
versus the greenback at 1.36 per dollar.
Oil prices renewed their slump after news that two key
oilfields in Libya had restarted, pumping crude for export into
an already swollen market. Brent crude is on track for its
seventh decline in nine sessions.
U.S. crude fell 1.37 percent to $48.94 per barrel
and Brent was last at $51.71, down 1.34 percent on the
(Additional reporting by Yashaswini Swamynathan; Editing by Dan