By RTT News, October 03, 2013, 07:09:00 AM EDT
(RTTNews.com) - The European markets are trading mixed on Thursday, after strong data emerged out of China and partial shutdown of the government continued in the U.S. with lawmakers failing to break the budget impasse. Volume was thin in Germany owing to the German Unity Day public holiday.
The growth in Chinese non-manufacturing sector reached a six-month high in September amid a solid increase in new work, a survey by the China Federation of Logistics and Purchasing, or CFLP, and the National Bureau of Statistics revealed.
The headline purchasing managers index for the non-manufacturing sector, which includes services and construction industries, rose to a six-month high of 55.4 in September from 53.9 in August.
Closer home, Eurozone's retail sales increased more than expected by economists in August, the latest figures from Eurostat revealed. Retail sales increased 0.7 percent month-on-month in August compared with forecast for a 0.2 percent growth.
Private sector business activity across the Eurozone improved slightly more than previously estimated in September, final results of a survey by Markit Economics revealed. The composite output index, which measures performance of manufacturing and service sectors, rose to a 27-month high of 52.2 in September from 51.5 in August. The flash estimate was 52.1.
The Euro Stoxx 50 index of eurozone bluechip stocks is losing 0.24 percent , while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.02 percent.
The German DAX is losing 0.1 percent and the French CAC 40 is falling 0.4 percent. The FTSE 100 index of the U.K. and Switzerland's SMI are up 0.2 percent each.
In Frankfurt, Commerzbank is losing 2.1 percent while Deutsche Bank is falling 0.5 percent.
Gerresheimer is falling 2 percent after Credit Suisse cut the stock to ''Neutral'' from ''Outperform.''
Volkswagen is trading lower, while Daimler and BMW are in the green.
In Paris, Alstom is declining 3.4 percent and Michelin is dropping 2.8 percent.
Deutsche Bank cut Kering to ''Hold'' from ''Buy.'' The stock is down 0.9 percent.
In London, Aviva is gaining 2.5 percent and Aberdeen Asset management is adding 1.7 percent.
Tesco is advancing 1 percent. Citigroup raised the stock to ''Neutral'' from ''Sell.''
Goldman Sachs removed Unilever from ''Conviction Buy'' List. The stock is gaining 1.3 percent.
Low-cost airline easyJet lifted its outlook for full-year pre-tax profit, on strong demand in July and August. The stock is moderately lower.
Biotechnology firm Addex is surging more than 16 percent in Zurich. The company said its ADX71441 dose dependently reduced PMP22 expression, comparable to baclofen in a preclinical transgenic model of Charcot-Marie-Tooth 1A disease or CMT1A.
Asian stocks rose broadly even as the U.S. government shutdown entered its third day. Investors also cheered a major political victory for Italian Prime Minister Enrico Letta's government in a no confidence vote and positive economic data out of China.
In the U.S., futures point to a lower open on Wall Street. In the previous session, stocks drifted lower as a report from payroll process ADP showed weaker than expected private sector growth in September, adding to concerns about the economic impact of a prolonged government shutdown and the looming debt ceiling. The Dow slipped 0.4 percent, while the tech-heavy Nasdaq and the S&P 500 dropped about 0.1 percent each.
In the commodity space, crude for November delivery is losing $0.23 to $103.87 per barrel while December gold is falling $15.2 to $1305.5 a troy ounce.
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