European markets down on Friday

By FXstreet.com | October 26, 2012 AAA

FXstreet.com (Barcelona) - European equities are edging lower on Friday, following the Asian sentiment. American futures signal the same approach on the American session.

The German DAX 30 and the French CAC 40 are down by -0.52%, while the Italian FTSE MIB and the Spanish IBEX 35 lose -1.05%, and the British FTSE 100 sheds -0.83%.

Annualized German Import Prices softened from 3.2% to 1.8% in September, much below the 2.9% consensus, and contracted -0.7% on the month. The unemployment rate rose from 24.63% to 25.00% in Q3. Business confidence in Italy fell from 88.3 to 87.6 in October. In France, consumer confidence eased from 85 to 84 in October, as expected. The only positive news came from the GfK survey, pointing to a rise in German consumer confidence, from 5.9 to 6.3 for November.

The IMF doesn't expect Greece to meet its debt targets, ECB's Praet says the Euro is irreversible and ECB's Asmussen said the OMT programme won't have inflationary consequences.

Italy sold ¬3B of 2-year debt at 2.397% (vs 2.53% previously), ¬674M of September 2021 BTPei at 3.33%, and ¬326M of September 2026 BTPei at 3.75%. ECB's Praet praised Italy's reforms.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a lower opening between -0.60% and -0.75% ahead of the annualized GDP data in the US and the NY session. WTI crude oil is down by -0.53%, at $85.58, and Gold falls by -0.40%, at $1703.

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