Skip to Content
Market Update

European Markets Slightly Up

European markets edged slightly higher Friday.

The FTSE inched up 0.1%. The CAC 40 Paris was up 0.2% while the German DAX added 0.3%.

Data today showed the Swiss producer price index remained unchanged last month.

On Thursday, European Central Bank governing council member Jens Weidmann played down fears over the threat of deflation in the currency bloc, saying the risk of broad deflation was limited.

Retail sales data is due in the U.K. slightly later.

Stocks on the Move

In London, Aussie miners BHP Billiton and Rio Tinto were up 1.3% and 1.8% each after Citigroup picked the two stocks as its favourites among miners. The upgrade comes on the back of an upbeat production update from Rio Tinto yesterday.

However, Royal Dutch Shell fell 2.9% after it warned fourth quarter figures would be lower than recent numbers. The warning also dragged a few other energy shares lower across the region.

BP fell 1.3% while BG Group was down 0.8%.

Ophthalmic lenses maker Essilor dropped 2.4% in Paris after missing its 2013 sales targets.

But hotelier Accor SA gained 1.4% after the company raised operating profit goal for 2013.

Deutsche Bank was marginally lower while Commerzbank was down 0.4%.

Daimler and BMW were up about a percent each while Volkswagen gained half a percent.

Sponsor Center