EU stocks slide on poor industrial production data; investors eye US retail sales data
Trading Floor News March 13, 2013 3:50 PM
<p>This morning, the FTSE is trading at 6469, the DAX is at 7945, STOXX Europe 600 at 294 and DOW futures are currently trading at […]</p>
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This morning, the FTSE is trading at 6469, the DAX is at 7945, STOXX Europe 600 at 294 and DOW futures are currently trading at 14,450
In the UK, Direct Line Insurance Group declined 2.5% after RBS Group revealed plans to sell a £530m stake following EU compliance rules
European stocks declined amidst reports that industrial production fell in January. This reverses a 4.5-year high reached last week. Spanish clothing company Inditex SA lost 4.1% after reporting its slowest profit growth in a year
Italy’s biggest utility company Enel Spa dropped 4.8% in trading today, while Swiss HR consulting company Adecco SA dropped 4.5%
Elsewhere US shares remained strong, with little change amidst data released today in the US. Retail sales climbed 0.5% in February (fourth monthly advance). Asian stocks, meanwhile, have fallen
Back in the UK, insurance company Prudential was one of the best performers today after it saw profits beat expectations and raised its dividend by 16%. Thomas Cook shares rocketed up 12% this morning after revealing plans for £350m profit targets for 2015. Intesa Sanpaolo was up 2.1%
In currencies, GBP/USD was trading at 1.4937, GBP/EUR at 1.1458 and EUR/USD at 1.3036
Gold is trading at $1,590 and oil is trading at $92.74
In economic data, EU industrial production figures will be released at 10am GMT, followed by US core retail sales and import prices (expected to come in 0.5%) at 12.30pm GMT
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