French Market Slips
The French market is declining in afternoon trading Friday, reflecting weak cues from Asia and lower commodity prices. Banks are mostly lower, while construction stocks and car manufacturers are trading higher.
In economic news, Eurozone inflation accelerated to 2.2% in December from 1.9% recorded in November, statistical office Eurostat confirmed. December's inflation rate is the highest since October 2008, when consumer prices rose 3.2%.
UK output price annual inflation increased to 4.2% in December from a revised 4.1% in November, the Office for National Statistics said. Input price annual inflation accelerated to 12.5% in December from 9.2% in November.
The CAC 40 index opened lower at 3,961 and has been seeing volatile trading. The index is currently losing 0.32%.
Luxury goods firm LVMH is losing 1.9% and chipmaker STMicroelectronics is losing 1.65%. Dairy giantDanone is slipping 1.5%.
Those making notable losses include Scheneider Electric, drugmaker Sanofi-Aventis, chemicals firmAir Liquide and brewer Pernod-Ricard.
Among banks, Credit Agricole, BNP Paribas and Societe Generale are falling, while Natixis is gaining 0.2%.
Carmakers Renault and Peugeot are up about 0.3%.
Computer & consulting firm Cap Gemini, Airbus maker EADS, hotel group Accor, building materials maker Saint-Gobain and cement giant Lafarge are seeing notable upside. Builders Vinci and Bouygues are moderately higher.
Elsewhere in Europe, the UK's FTSE 100 is slipping 0.72% and the German DAX is losing 0.61%.
Across Asia/Pacific, markets had a mixed close. Japan's Nikkei 225 lost 0.86%, India's BSE Sensexretreated 1.68% and China's Shanghai Composite Index slipped 1.31%. However, Australia's All Ordinaries and Hong Kong's Hang Seng managed to close in positive territory, up 0.14% and 0.18%, respectively.
In the U.S., futures point to a lower open on Wall Street. In the previous session, the Dow fell 0.2%, theNasdaq edged down 0.1% and the S&P 500 slipped 0.2%.
In commodities, crude for February delivery is sliding $0.96 to $90.44 per barrel and gold is declining $22.7 to $1364.3 a troy ounce.