European indices open on Friday on sharp declines
2018-02-09 08:52 am | Resource: NEWS | No Views : 142
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.
Time frame Used - four hours The NASDAQ 100 is moving in a sideway in the near-term The NASDAQ is still facing resistance around level of 6951 In view of the technical indicators Both the RSI and the Stochastic are indicating to lower indicators Therefore we expect that the NASDAQ 100 will fall to level of 6851 The alternative scenario is that the NASDAQ 100 breach level 6951 to upside…
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