European bourses declined amid mixed data. Tensions around Syria
and whether the U.S. will have to go solo on a military strike also
keep investors at bay.
An index of monthly UK consumer confidence from market research
institute GfK rose to a near-four year high of minus 13 in August
from minus 16 in July, beating analyst expectations.
Meanwhile, British Chambers of Commerce made a second
consecutive upward revision to its economic forecast and now
expects growth of 1.3% this year, compared with its previous
estimate of 0.9%.
UK house prices also rose 0.6% in August from July and were 3.5%
higher from a year earlier. In July house prices rose 0.9% on the
month and were 3.9% higher on the year.
In the eurozone, business confidence increased by 2.7 points to
95.2 in August.
Eurostat said annual consumer price inflation in August would be
1.3%, down from 1.6% in the previous month due mainly to a drop in
Joblessness fell by 5,000 in August, but the jobless rate stayed
at an all-time high of 12.1%, according to figures from
German retail sales in July dropped 1.4% on the month, adding to
June's 0.8% decline, the federal statistics office said.
In the United States, consumer spending edged up 0.1% last month
on a seasonally adjusted basis, the Commerce Department said.
Economists polled by MarketWatch had forecast a 0.3% advance.
The University of Michigan/Thomson Reuters consumer-sentiment
index dropped from its highest level in six years in August.
In ADR news, Deutsche Bank (
) was upgraded to overweight from neutral at J.P. Morgan
Telecom Italia (
) firmed after analysts at Bernstein said the company could be the
next in the recent trend of mergers in the European telecom sector.
Bernstein also upgraded the shares to outperform from market
The FTSE-100 was last down 1.08% at 6,412.93, the DAX down 1.12%
at 8,103.15 and the CAC-40 down 1.32% at 3,933.78.
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