European Shares Decline On Tech, Fed Policy Jitters
(RTTNews) - European stocks fell on Friday as investors fretted about overvalued tech valuations and an uncertain path for U.S. monetary policy.
In economic releases, U.K. retail sales declined for the first time in five months in October as consumers delayed their spending in the lead up to Black Friday, the Office for National Statistics said.
Retail sales fell 1.1 percent on a monthly basis in October, in contrast to the 0.7 percent increase in September. This was the first fall in five months and worse than economists' forecast of 0.1 percent drop.
Separately, British consumer confidence deteriorated in November ahead of the upcoming autumn budget, a private survey revealed. The consumer sentiment index dropped two points to -19.
The latest batch of Purchasing Managers' Index (PMI) data from Germany, the Eurozone and the United Kingdom will be published later in the day.
The pan European Stoxx 600 was down 0.6 percent at 560.49 after gaining 0.4 percent on Thursday.
The German DAX dipped 0.6 percent, France's CAC 40 edged down 0.3 percent and the U.K.'s FTSE 100 was down 0.4 percent.
France's TotalEnergies fell 1.4 percent after it signed an agreement to acquire a 50 percent operating interest in OPL 257 from Conoil.
Lender BNP Paribas dropped 1 percent after lifting its capital ambitions.
Babcock International, a British aerospace, defense and nuclear engineering services company, declined 1.5 percent after keeping its full-year guidance unchanged.
Property development and investment company Hammerson rallied 2.7 percent after it acquired the remaining 50 percent interest in The Oracle shopping center in Reading from its joint venture partner.
New York Manufacturing Index Pulls Back Sharply But Remains Positive
New York Manufacturing Index Slumps Much More Than Expected In September
Bay Street Likely To Open On Slightly Weak Note
Yen Falls Against Majors
FTSE 100 Recovers Despite Weak UK Jobs Data, Oil Concerns
Rising Oil Prices, Inflation Push CAC 40 To 4-Month Trough
German ZEW Economic Sentiment Improves Moderately
