European Stocks Mostly Lower Ahead of U.S. Retail Sales and Sentiment

LONDON (The Deal) -- European stock indices were largely down on Friday, presaging a fifth consecutive day of losses ahead of critical retail sales and consumer data from the U.S. later Friday.

Analysts are looking for a rise in both sets of data, which come from the Department of Commerce, and Reuters and the University of Michigan, respectively, and will be out at 8:30 a.m. and 9.55 a.m. EDT. In Europe, European Central Bank boss Mario Draghi will later today meet euro-area finance ministers in Madrid to discuss regulation and growth strategies.

Watch the video below for an update on how European markets are doing in midday trading Friday:


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In London, the FTSE 100 edged up 0.07% to 6,804.70. The threat of Scotland voting for independence next week has receded in the past two days as a host of businesses have this week announced plans to move their headquarters from Scotland to England, or warned of rising prices north of the border if independence happens.

In Frankfurt, the DAX slipped 0.28% to 9,663.73. In Paris, the CAC 40 fell 0.27% to 4,428.97.

Engineering and design IT company Aveva  (AVEVF) tumbled more than 20% after it cut its first-half revenue projection, citing a "material impact" on revenue from currency moves and said demand in South America and parts of Asia has slowed.

But restructuring outsourcing group Serco Group  (SECCY) rose as analysts at UBS lifted their recommendation to neutral from sell and raised their price target.

Barclays (BCS)  was up 1.4% on news that John McFarlane will succeed David Walker as chairman next year. McFarlane has received plaudits for overseeing restructuring initiatives as chairman of both Aviva and FirstGroup and will stand down from both those roles next year.

In Paris, holiday resorts operator Club Mediterranee was little changed after the surprise return to the bidding of Ardian and China's Fosun Internation, which have trumped a bid by affiliates of Italian investor Bonomi with an offer which values the stock at 790 million euros ($1.2 billion).

In Hong Kong, the Hang Seng closed down 0.27% at 24,595.32 but mainland indices rose. Chinese credit data from the People's Bank of China fell below analysts' forecasts in August, raising new doubts about the government's ability to reach its growth target.

In Tokyo, the Nikkei 225 closed up 0.25% at 15,948.29.

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