The European markets are trading in negative territory in afternoon trading Friday, led by miners and construction firms. Sentiment was hurt by a slew of economic reports as well as concerns about the U.S. second-quarter GDP data.
Crude for September delivery is trading lower by $0.56 per barrel at $77.80 and gold is rising $3.1 an ounce at $1174.3.
In economic news, British consumer confidence declined for the fifth straight month in July. Market research firm GfK NOP said its consumer confidence index slid to -22 in July from -19 in the previous month. Analysts had expected the sentiment indicator to fall to -20.
In Germany, retail turnover dropped by a seasonally and calendar adjusted 0.9% in June from May, according to provisional results released by the Federal Statistical Office. The decline reversed last month's 3% monthly growth. Economists had expected only 0.2% fall for June.
In the Eurozone, annual inflation rose to 1.7% in July, logging the highest rate since November 2008, said a flash estimate from Eurostat. The inflation rate matched economists' estimate. Yet another report, released by Eurostat, revealed that eurozone's unemployment rate was unchanged at 10% in June, in line with analyst expectations.
U.K.'s FTSE 100 opened at 5,314 and soon dipped into negative territory, touching a low of 5,279 in the process. German DAX opened below the flat line at 6,123 and remained in the red for most part of the session. In France, the benchmark CAC 40 index began trade below the unchanged line at 3,647, and except for a brief upward movement into positive territory early in the session, has remained in the red.
The FTSE 100 is currently sliding 0.69%, the DAX is slipping 0.57% and the CAC 40 is easing 0.41%.
Having dropped 2.37%, travel services provider TUI Travel is declining the most on the FTSE 100. Asset manager and bank Investec is declining 2.16% after reporting only a slight increase in first-quarter attributable earnings.
Miners Rio Tinto, BHP Billiton, Xstrata, Vedanta Resources and Antofagasta are declining between 1.86% and 1.05%. BP and Tullow Oil are down about 1.8%.
United Utilities Group and Severn Trent are gaining 4.9% and 2.89%, respectively. British Airways, which reported a wider second-quarter loss, is advancing 1.98% after maintaining its full-year target of a pre-tax breakeven..
Among lenders, Lloyds Banking Group is adding 1.20% and Standard Chartered is gaining 0.32%. However, Royal Bank of Scotland is declining 0.34% and Barclays is down 0.89%.
Among DAX components, HeidelbergCement is declining 4.52% and steel maker ThyssenKrupp is dropping 2%. Those making notable losses include software giant SAP and insurer Allianz.
Car manufacturers are seeing a mixed movement. Bayerische Motoren Werke is slipping 1.51% and daimler is giving in 0.86%, while Volkswagen is gaining 0.95%. Deutsche Bank is adding 0.54%, while Commerzbank is slipping 0.05%.
Construction companies are retreating on the CAC 40. Cement giant Lafarge is declining 4.47% and building materials maker Saint-Gobain is slipping 1.93%. Heavy construction firms Vinci and Bouygues are losing about 1.7% each. Car maker Peugeot is down 1.72%, while Renault is gaining 1.51%.
The winners are led by Alcatel Lucent, which maintained its full-year adjusted operating margin outlook. The stock is rising 7.59%. Airbus maker EADS is advancing 2.72%. Oil giant Total is rising 1.32%. Electric utility EDF is adding 1.29% after deciding to sell its UK electricity networks business to a consortium controlled by Hong Kong billionaire Li Ka-Shing for $9 billion. Air France -KLM is adding 1.27%.
Across Asia/Pacific, most major markets closed in negative territory. Australia's All Ordinaries trimmed 0.63%, China's Shanghai Composite declined 0.40%, India's BSE Sensex retreated 0.69% and Japan's benchmark Nikkei 225 contracted 1.64%.
In the U.S., futures point to a weaker open on Wall Street. In the previous session, the Dow slipped 0.29%, the Nasdaq edged down 0.57% and the S&P 500 eased 0.42%.
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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.