RTTNews - The European markets fell for the second day on Friday, as a report showed Eurozone retail sales dropped more than expected in May and mining stocks edged lower after copper prices declined.
Trading volumes were exceptionally light because of Wall Street's closure for the Independence Day holiday.
Eurozone retail sales fell 0.4% month-on-month in May following a revised increase of 0.1% in April, data released by the Eurostat showed today. Economists had expected a drop of just 0.1%.
Crude for August delivery fell $0.65 to $66.08 a barrel in electronic trading on the New York Mercantile Exchange, by the time the European markets closed. Floor trading was closed for the Independence Day holiday.
The FTSEurofirst 300 index of pan-European blue chips closed 0.06% lower at 842.52 points, while the narrower DJ Stoxx 50 index rose 0.06% to 2,077.28 points.
Around Europe, Germany's DAX index fell 0.22% to 4,708.21, while the U.K.'s FTSE 100 index rose 0.05% to 4,236.28 and France's CAC 40 index surged up 0.10% to 3,119.51.
Metro, Germany's biggest retailer, slipped 2.5%, as European retail sales dropped more than economists estimated.
BHP Billiton, the world's biggest miner, fell 1.4%, while Anglo American, the second biggest, declined 1.2% and Rio Tinto, the third biggest, slipped 2.2%.
EDF, Europe's biggest power producer, dropped 4.5% after Morgan Stanley downgraded the stock to equal weight from overweight.
On the other hand, banking stocks were among the top gainers. HSBC, Europe's largest bank, rose 1.7%, while Royal Bank of Scotland, Britain's second largest bank, climbed 2.3% and Barclays, Britain's third largest bank, surged up 2.7%. BNP Paribas, France's largest bank, gained 2% and Deutsche Bank, Germany's biggest lender, added 1.7%.
For comments and feedback: contact firstname.lastname@example.org