Apr 5, 2013
European markets down on EMU GDP, US futures pressured ahead of US NFP
The German DAX 30 (-1.90%), the French CAC 40 (-1.50%), the Italian FTSE MIB (-0.26%) and the Spanish IBEX 35 (-0.88%) are down on Friday after the release of the first reading for GDP Q1 2013, coming at -0.6%. EMU retail sales contracted by -0.3% in February, more than the -0.2% expected and after a +1.2% rise in the previous month. The annualized figure rebounded from -1.9% (revised from -1.3%) to -1.4%, while market consensus was pointing to -1.8%. German Factory orders came in at +2.3% (MoM) and 0.0% (YoY) from -1.6% and -2.1%, respectively, surprising investors that were expecting +1.2% and -1.5%. The ECB announced LTRO repayments of €8.064bn from 20 banks, with the amount split roughly evenly between the first and second LTROs.
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