By RTT News,
December 13, 2013, 05:47:00 AM EDT
(RTTNews.com) - The French market is trading above the flat line on Friday, despite lack of firm catalysts, even as gains were limited amid persistent fears about the Federal Reserve's decision on reducing the asset purchases.
On a day of little economic news from the region, U.K. construction output recovered in October, boosting hopes of strong recovery in the fourth quarter, the Office for National Statistics said.
Construction output gained 2.2 percent month-on-month, after declining 0.5 percent in September. The growth was driven by the strength in new work, and repair and maintenance.
Dutch trade surplus increased in October from a year earlier, data released by Statistics Netherlands revealed. The trade surplus rose by 0.4 billion euros year-on-year to 4.2 billion euros. However, the value of exports of goods fell 2.1 percent annually to 37.9 billion euros.
The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.21 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.11 percent.
The CAC 40 index is currently rising 0.13 percent.
Bouygues is gaining 2.5 percent. Peer Vinci is unchanged.
BNP Paribas and Societe Generale are rising 1.5 percent and 1.3 percent, respectively. Insurer Axa is gaining 2.1 percent.
Vivendi is down modestly. Its unit GVT and US-based EchoStar Corp. are no longer in discussions to form a joint venture for pay TV services in Brazil.
Peugeot is plunging close to 10 percent after General Motors Co. said it would sell its entire 7 percent stake in French car maker.
Other major markets in the region are also in positive territory.
The Asian stocks turned in a mixed performance, as investors remained apprehensive of Fed action at its policy meeting next week. Bargain hunters emerged after recent selloff, capping the downside to a large extent.
In the U.S., futures point to a higher open on Wall Street. In the previous session, stocks fell for a third consecutive day, as investors digested mixed economic data on retail sales and jobless claims and looked ahead to next week's FOMC meeting. The Dow dropped 0.7 percent and the S&P 500 slid 0.4 percent, while the Nasdaq slipped 0.1 percent.
Crude for January delivery is falling $0.09 to $97.41 per barrel, while gold is losing $0.3 to $1224.6 a troy ounce.
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