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European indices fell after Spanish Markit report publication

On Friday, European indices showed a decline after disappointing data on production in Spain, while investors remained cautious ahead of the expected release of the employment report in the United States.

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European indices fell after Spanish Markit report publication

During morning trade in Europe, DJ Euro Stoxx 50 lost 0.72%, France's CAC 40 fell by 0.83%, while German DAX fell by 0.75%.

Markit marketing research group informed that the index of purchasing managers in the manufacturing sector of Spain fell to 53.9 in July from 54.6 in the previous month, confounding expectations for a gain to 54.7. But European equities supported after official data on Thursday showed that the annual inflation rate in the Eurozone slowed to a five-year low of 0.4% from 0.5% in June.

Data added to the pressure on the European Central Bank to implement further stimulus measures to support growth and stave off the threat of deflation in the region.

In the U.S., official data was published on Wednesday and showing that the U.S. economy has grown more than expected in the second quarter, renewing speculation about the timing of a possible rate hike.

Financial stocks were mixed as shares of French lenders BNP Paribas and Societe Generale rose by 0.04% and 0.20%, while German Deutsche Bank decreased by 0.16%. Earlier Friday, Societe Generale reported about an increase in profit by 7.8% in the second quarter, helped by the reduction of deductions for doubtful loans.

United Kingdom’s FTSE 100 fell by 0.53% under the pressure of the downturn in the mining sector. Shares of BHP Billiton fell by 1.31%, while shares of its rivals Rio Tinto and Glencore Xstrata fell by 1.72% and 2.02% respectively.

The financial sector has shown decline, as the shares of Barclays fell by 0.22% and HSBC Holdings – by 0.56%, while shares of Lloyds Banking Group decreased by 1.06% and the Royal Bank of Scotland fell by 1.52%.

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