European stocks may open on a flat to slightly higher note Friday amid some possible bargain hunting. However, with Asian stocks falling deep into the red, the underlying sentiment is likely to remain cautious before the release of U.S. GDP data later in the day.
Meanwhile, British consumer confidence improved moderately in January, a survey conducted by market research firm GfK NOP showed on Friday. The consumer confidence index stood at minus 17 in January compared to minus 19 in the previous month. The annual moving average also improved and stood at minus 24, the firm said. A year ago, the index stood at minus 37.
Asian stocks fell sharply across the board on Friday, weighed by lower commodity prices, disappointing economic data from the U.S and fresh concerns over the public finances of Greece, Portugal and other smaller euro zone countries.
South Korea's KOSPI average led the declines in the Asia-Pacific region, losing 2.44%, followed by Australia, Japan, India and Hong Kong.
The Dow futures are now moving down by 47 points, pointing towards another weak session on Wall Street Friday morning, while crude oil futures are showing moderate gains.
On Wall Street, stocks ended notably lower on Thursday, as another round of stagnant economic data and concerns about the health of the U.K. banking system overshadowed the re-confirmation of Ben Bernanke for the post of Federal Reserve Chairman. The Dow fell 1.13%, the tech-heavy Nasdaq declined 1.91% and the S&P 500 eased 1.18%.
In corporate news, Canplats Resources Corp. announced that the holders of Canplats common shares, options and warrants have approved the previously announced acquisition of Canplats by Goldcorp Inc.
French state-controlled nuclear group Areva SA posted 12.4% growth in 2009 fourth-quarter revenue and anticipates "significant growth" in order back log and revenue in its nuclear segment in 2010.
Italian luxury jeweler Bulgari SpA said its revenue declined 5% year-over-year in the fourth quarter.
Graphite manufacturer and electrical components company Carbone Lorraine SA reported fourth-quarter revenue of 148 million euros, down 17% from a year earlier.
Deutsche Bank's CEO Josef Ackermann urged politicians to stop " bank bashing and the blame game" and reiterated that too much regulation could have a detrimental effect on the real economy.
Italian defense and aerospace group Finmeccanica cut its 2010 targets for earnings before interest, taxes and amortization to between 1.52 billion euros and 1.60 billion euros from between 1.65 billion euros and 1.76 billion euros previously.
The European markets fell for the second day on Thursday, as banking stocks erased earlier gains after Standard & Poor's said it no longer classifies Britain's banking system among the most stable and low-risk in the world and commodity stocks declined on weaker crude oil and metals prices.
The FTSEurofirst 300 index of pan-European blue chips closed 1.19% lower, while the narrower DJ Stoxx 50 index fell 1.39%. Around Europe, the U.K.'s FTSE 100 index fell 1.37%, France's CAC 40 index dropped 1.89% and Germany's DAX index slipped 1.82%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.