Plus   Neg

French Market Trading Lower

The French market is in negative territory on Friday, as worries about the fiscal cliff in the U.S. overshadowed encouraging consumer inflation data from China.

China's consumer inflation unexpectedly slowed to a 33-month low in October, increasing the likelihood of further policy easing to stimulate economic growth. The annual consumer price inflation eased to 1.7 percent in October from 1.9 percent in September, the National Bureau of Statistics said.

French industrial production contracted more than forecast in September, latest figures from the statistical office Insee showed. Total industrial production fell 2.1 percent year-on-year in September, faster than the 0.1 percent decline forecast by economists.

British construction output declined 2.6 percent quarter-on-quarter in the third quarter, the latest figures from the Office for National Statistics showed.

The Euro Stoxx 50 index of eurozone bluechip stocks is losing 0.55 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.49 percent.

The CAC 40 index is losing 0.1 percent.

Credit Agricole is declining 6.1 percent after reporting a hefty loss for the third quarter.

Nomura raised Societe Generale to "Buy" from "Reduce." The stock is down 0.3 percent.

Lafarge, which announced third-quarter financial results, is up 0.5 percent.

Vallourec is gaining 3.7 percent. Hotel group Accor is advancing 1.5 percent.

Elsewhere in Europe, the German DAX is declining 0.75 percent. The UK's FTSE 100 is falling 0.32 percent and Switzerland's SMI is sliding 0.33 percent.

Across Asia/Pacific, markets ended broadly lower. Australia's All Ordinaries fell 0.4 percent and China's Shanghai Composite Index slid 0.1 percent. Hong Kong's Hang Seng and Japan's Nikkei 225 retreated 0.9 percent each.

In the U.S., futures point to a mixed open. In the previous session, stocks fell sharply for the second day in a row, as lingering concerns about higher taxes and increased regulation in the administration's second term overshadowed positive U.S. jobless claims and trade deficit data.

The Dow Jones Industrial Average, the S&P 500 and the tech-heavy Nasdaq fell between 0.9 percent and 1.4 percent to finish the session at their worst closing levels in over three months.

In the commodity space, crude for December delivery is adding $0.08 to $85.17 per barrel and December gold is advancing $11.3 to $1737.3 a troy ounce.

by RTTNews Staff Writer

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