The French market erased early losses and is in positive territory in afternoon trading Friday, after lower than expected fall in second-quarter revised economic growth in the U.S. lifted sentiment.
Crude for October delivery is trading down $0.26 at $73.10 per barrel and December gold is currently at $1241.8 an ounce, up $4.1 from the previous close.
In economic news, Germany's import price inflation continued to rise in July, a report by the Federal Statistical Office showed. The import price index rose 9.9% year-on-year in July, faster than 9.1% in the previous month. Economists had expected an increase of 9.7%.
In the U.K., second-quarter economic growth was revised up. The economy grew 1.2% sequentially in the second quarter, revised up from 1.1%, the Office for National Statistics said. It was the biggest expansion since the first quarter of 2001. GDP was 1.7% higher than the second quarter of 2009.
Consumer prices in Japan were down 1.1% on year in July, falling for the 17th consecutive month, the Ministry of Internal Affairs and Communications said. The reading came in line with expectations following the 1% decline in June.
In the U.S., economic activity in the second quarter expanded by far less than previously estimated, according to a report released by the Commerce Department. The Commerce Department said GDP growth in the second quarter was downwardly revised to 1.6% from the advance estimate of 2.4%. Economists had been expecting second quarter GDP growth to be revised down to 1.4%.
The CAC 40 opened below the unchanged line at 3,460 and remained in negative territory until the early part of the afternoon session. The index is currently gaining 0.67%.
The winners are led by media giant Vivendi, which is rising 2.96%. Heavy construction firms Vinci and Bouygues are gaining 2.51% and 1.17%, respectively.
Grocery retailer Carrefour, France Telecom and Suez Environnement are making notable gains.
Banks Credit Agricole is adding 0.93% and Societe Generale is rising 0.54%. However, Dexia is down 0.02% and BNP Paribas is losing 0.17%.
Car maker Peugeot is gaining 0.53%, while Renault is slipping 0.46%.
Airplane maker EADS is declining 3.62% and contact lens manufacturer Essilor International is losing 2.17%. Chip maker STMicroelectronics is retreating 1.72% and media firm Lagardere is falling 1.26%.
Overseas, most stock markets across the Asia-Pacific ended in positive territory. Australia's All Ordinaries added 0.33%, China's Shanghai Composite Index gained 0.28% and Japan's Nikkei 225 gathered 0.95%. However, India's BSE Sensex bucked the uptrend and dropped 1.25%.
The U.S. futures indicate a slightly higher open on Wall Street. In the previous session, the Dow fell 0.7%, the Nasdaq slid 1.1% and the S&P 500 declined 0.8%.
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