European markets drown on last Friday of 2012

FXstreet.com (Barcelona) - The sea of red observed in the European equity morning is a result of month/year end flows and concerns over the US fiscal cliff. The German DAX 30 (-0.45%), the French CAC 40 (-0.85%), the Italian FTSE MIB (-0.41%), the Spanish IBEX 35 (-1.78%), among most indexes, fall on Friday.

The Italian 10-year bond auction found a higher average yield today, from 4.45% to 4.48%. The Greek PPI eased from 4.0% to 2.4% in November. The Italian Producer Price Index (YoY) eased from 2.3% to 2.0% in November, coming below the expected 2.1%. November Retail Sales in Spain also came in better than expected, rising from -9.7% to -7.8%, while market consensus was pointing to a wider contraction of -10.0%.

Q3 killed what was left of economic growth in France, as the annualized GDP Q3 eased from +0.2% (revised from 0.3%) to 0.0%, and the quarterly change was only of +0.1% (Q2 was revised from -0.1% to +0.2%).

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a lower opening around -0.40% ahead of the US Chicago PMI and Pending Home Sales. WTI crude oil trades flat at $90.90 and Gold eases by -0.17%, at $1660.