LONDON (SHARECAST) - -Spanish unemployment at post-Franco era record
-Athens facing Sunday deadline
FTSE Mibtel 30: 0.36%
Ibex 35: -0.05%
Stoxx 600: 0.10%
The main European equity benchmarks have finished the session generally higher and off of their lows. That after what at first glance appear to be today’s better than expected GDP data out Stateside and against a backdrop of worries over the slowdown being seen in corporate earnings.
No less important, if not more even, investors are closely watching how events unfold in Athens, as the government there must meet a Sunday deadline for the approval of a package of economic reforms so as to be able to opt for the next tranche of financial aid from its international lenders.
The weak reading on Spanish unemployment this morning also fanned the worries currently surrounding the Eurozone periphery in general.
From a sector stand-point the best performance on the DJ Stoxx 600 is now to be seen in the following industrial groups: Retail (1.0%), Construction (0.57%) and Basic resources (0.56%).
Spanish unemployment at post-Franco era record
Spanish unemployment rose to 25.02% in the third quarter, from 24.63% in the second (Consensus: 25%).
French consumer confidence dropped to 84 points in October (Consensus: 84), after the 85 point level in the month before.
Germany’s GfK consumer confidence index for the month of November has come in at 6.3 (Consensus: 5.9) following 6.1 in the month before.
Euro and oil diverged slightly
The euro/dollar moved down by -0.11% to the 1.2930 dollar mark.
Front month Brent crude futures rose by 0.147 dollars to the 108.64 dollar level on the ICE.