The UK market is moving across either side of the unchanged line in afternoon trading Friday, with miners on the decline, while lenders are seeing the upside.
Crude for October delivery is trading up $1.21 at $75.46 per barrel and gold is slipping $0.6 at $1250.3 an ounce.
In economic news, the Conference Board leading index, a leading indicator of the U.K. economy, climbed 0.2%, slower than the 0.5% rise in June. Five of the seven components made positive contributions to the index.
In another report, the Office for National Statistics said U.K. factory output prices rose 4.7% in August compared to the same month a year ago. This compares to a 5% increase in the previous month.
French industrial production increased 6.4% year-on-year in July, the statistical office Insee said. Economists had expected an increase of 5%. Month-on-month, industrial output was up 0.9% in July, while economists were expecting a 0.2% rise.
In Spain, inflation eased slightly in August, the statistical office INE said. The consumer price index rose 1.8% year-on-year in August, after a 1.9% rise in the previous month, in line with economists' forecast. Prices increased for the 10th month in a row. Month-on-month, prices rose 0.3% in August, following a 0.4% decline in July.
Meanwhile, China's trade surplus narrowed in August as imports picked up at a faster pace and exports slowed, official figures revealed. The General Administration of Customs said exports were up 34.4% in August compared to the same month a year ago, slowing from July's 38.1% rise. Imports jumped 35.2%, faster than the 22.7% increase in July.
The FTSE 100 opened at 5,494 and has remained below the flat line during most of the session. The index is currently losing 0.07%.
Tullow Oil is leading the decliners by falling 2.4% and BP is down 0.7%. However, Royal Dutch Shell is adding 0.3%.
The International Energy Agency said in its monthly Oil Market Report that global oil demand would grow by 1.9 million barrels per day year-over -year in 2010 to 86.60 million barrels per day. However, the agency warned of significant downside risks on fears that world economic recovery could stall.
Miners Eurasian Natural Resources, Anglo American, Rio Tinto, Xstata and BHP Billiton are sliding between 1.9% and 1.2%.
Among lenders, Royal Bank of Scotland is climbing 1.8% and Lloyds Banking Group is adding 1.4%. HSBC Holdings is rising 0.4%. But, Barclays is losing 1.1%.
Investment bank Icap is gaining 3.1% and insurer Aviva is rising 2.4%. Venture capital firm 3i Group is adding 1.9%.
Elsewhere in Europe, the German DAX is losing 0.35% and the French CAC 40 is slipping 0.16%.
Across Asia/Pacific, most major markets ended the day higher. Japan's Nikkei 225 climbed 1.55%, China's Shanghai Composite Index added 0.26% and India's BSE Sensex gained 0.71%. However, Australia's All Ordinaries lost 0.45% dragged down by resource stocks.
The U.S. futures point to a higher open on Wall Street. In the previous session, the Dow and the Nasdaq rose 0.3% each, and the S&P 500 advanced 0.5%.
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