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European indices open on Friday on sharp declines

2018-02-09 08:52 am | Resource: NEWS | No Views : 295

European indices opened on Friday to sharp declines, after closing the US markets on Thursday's declines, where the index of Eurostox 50 fell 0.09% to reach levels of 3,364 points, as the German DAX fell 0.17% to reach levels of 12,241 points , While the French CAC 40 index recorded losses of 0.43% to 5,131 points, although the statistical office said Friday that industrial production in France expanded more than expected in December.

Industrial output rose 0.5 percent year-on-year in December, compared with a 0.3 percent drop in November. The output is expected to grow by 0.1 percent, while industrial output rose 0.3 percent from November's -0.8 percent. Analysts had expected production to fall again in December by 0.5 percent.

Capital goods production rose by 1.8 percent, while transport equipment fell by 2.1 percent. Data showed that construction production rose by 4.1 percent on a monthly basis in December, reflecting a decrease of 0.2 percent a month In the fourth quarter, industrial output grew by 4.9% and 4.2% in the entire industry.

Finally, the British FTSE 100 came down 0.48% to reach 7135 points. On the other hand, shares of Vodafone were down by 1.98% at 203.22 pounds. Beltone Financial was up 0.40% at £ 1,480. Deutsche Bank was down 0.90% at € 12.70.

On the economic front, many European data are expected today, with industrial production and foreign trade due to be released from the UK on Friday, and Swiss unemployment data are due. Unemployment is still expected to remain unchanged at 3 percent in January.

Statistics Norway will publish consumer and producer prices for January. Inflation is expected to remain unchanged at 1.6%, and industrial production figures are expected to be released in France. Analysts expect industrial output to hit 0.1 percent year-on-year in December, reversing a 0.5 percent drop in November.

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Time frame Used - four hours The NASDAQ 100 is moving in a sideway direction in the near term. The Nasdaq 100 is still facing resistance and selling pressure around the 6632 level like the Dow Jones, where we see a weakness in the momentum of the NASDAQ 100, and the NASDAQ 100 is not able to exceed the Bollinger's moving average line. In view of the technical indicators Both…

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