By RTT News, October 16, 2013, 05:35:00 AM EDT
(RTTNews.com) - The European markets are trading lower on Wednesday, impacted by investor concerns about the looming debt ceiling deadline. The Asian markets ended mixed, while the U.S. index futures indicate a higher open.
On the economic front, Eurozone's foreign trade surplus fell more than expected in August, the latest data from the statistical office Eurostat showed. The region's goods trade with the rest of the world resulted in a surplus of 7.1 billion euros in August, down from a 18 billion euros surplus in July. This was forecast to fall to 10 billion euros.
Europe's new car registrations recovered in September with most major markets reporting growth from a year ago, the European Automobile Manufacturers' Association said.
The association said sales expanded 5.4 percent in September from the prior year. Sales totaled 1.15 million units compared to the record low volumes registered in September 2012.
The number of people claiming jobseeker's allowance in the U.K. plunged more than expected in September to the lowest since January 2009, data showed Wednesday.
Jobless claims declined 41,700 to 1.35 million, which was the lowest figure since January 2009, the Office for National Statistics said. The decrease was sharper than the consensus of 25,000 drop.
The Euro Stoxx 50 index of eurozone bluechip stocks is losing 0.32 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.38 percent.
The German DAX is sliding 0.1 percent. The French CAC 40 and Switzerland's SMI are declining about 0.7 percent each while the UK's FTST 100 index is dropping 0.5 percent.
In Frankfurt, Commerzbank and Deutsche Bank are notably higher.
HSBC raised Deutsche Post to ''Neutral'' from ''Underweight.'' The stock is moderately higher.
In Paris, LVMH is declining more than 6 percent after the luxury retailer reported third quarter sales that missed estimates.
Danone is declining 3.3 percent. The dairy giant cut its full year forecast to include the impact of some product recalls.
Publicis, which reported quarterly revenues, is declining 2.5 percent.
After cutting its annual sales forecast, Ubisoft Entertainment is declining more than 23 percent.
IMI is gaining 2.3 percent in London. The engineering group has agreed to sell its Retail Dispense business to an affiliate of Billionaire Warren Buffett'sBerkshire Hathaway Inc. (BRK.A; BRK.B) for a cash consideration of $1.1 billion.
Dutch semiconductor equipment maker ASML reported a drop in third-quarter net income, while net sales improved from the prior year. The stock is falling 2.6 percent in Amsterdam.
In Asia/Pacific, markets ended mixed, amid concerns about the U.S.
The U.S. futures indicate a higher open on Wall Street. As lawmakers continued to struggle to reach an agreement to end the latest fiscal crisis, the major averages ended the previous session firmly in negative territory. The Dow tumbled 0.9 percent, the Nasdaq slid 0.6 percent and the S&P 500 slipped 0.7 percent.
Among commodities, crude for November delivery is losing $0.01 at $101.20 per barrel while December gold is rising $5.7 to $1278.9 a troy ounce.
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