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September 21, 2017

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European stock markets slide for second consecutive day

LONDON/HONG KONG -- Europe's stock markets slid for a second day running on Friday in volatile trading as investors awaited key U.S. jobs data.

London's benchmark FTSE 100 index slumped 1.46 percent to stand at 6,631.68 points around midday in the British capital.

Frankfurt's DAX 30 tumbled 2 percent to 9,218.38 points and the CAC-40 in Paris lost 1.32 percent to 4,190.30 compared, with Thursday's close.

Madrid shed 1.68 percent and Milan dropped 1 percent.

European equities had tumbled on Thursday owing to international debt worries and geopolitical strains stretching from Ukraine to the Middle East.

A batch of U.S. releases, notably the jobs data, "should make for some volatile markets in what has already been a very volatile end to the week," he added.

National Australia Bank (NAB) predicted U.S. jobs creation will have stayed solid for July, forecasting an increase of 230,000 in nonfarm payrolls.

On the corporate side, shares in French nuclear power group Areva plunged 19 percent to 12.59 euros in Paris after the group reported a first-half loss and lowered its outlook.

L'Oreal slipped 2.33 percent to 123.45 euros despite the leading world cosmetics group posting a 1.5-percent rise in first-half net profits.

In London, International Airlines Group gained 1 percent to 334.3 pence after the company said it had increased quarterly profit thanks to improvement at its Spanish carrier Iberia, while its other main operator British Airways landed a solid performance.

IAG also announced that Iberia would be taking delivery of a fleet of new long-haul Airbus planes after signing a purchase proposal last year.

Meanwhile shares in French construction giant Vinci dropped 8.14 percent it reported its full-year sales could fall despite a 76.9 percent surge in first-half net profit.

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