European equities are expected to open higher on Friday after upbeat U.S. growth data from the U.S. In the U.S. on Thursday, the S&P 500 closed 1 percent higher, while the Nasdaq shot up nearly 2 percent after data showed that the U.S. economy expanded 3.2 percent in the fourth quarter, with consumer spending rising 3.3 percent. In Asia on Friday, stocks extended their losses on the final trading day of the month despite the rally on Wall Street and upbeat economic data from Japan which indicated the economy was making progress on its goal of beating deflation. December consumer prices beat expectations, rising at an annual 1.3 percent, the fastest pace in over five years. Trading volumes were thin due to the Chinese New Year holidays. Shanghai, Hong Kong and South Korean markets were closed and will resume trade next week. Earnings are expected from BBVA, Electrolux, and BT on Friday, as well as third quarter output from Vedanta Resources. On the data front, a U.K. consumer confidence survey for January and retail trade figures for December in Germany are expected today.
Posted on: Fri, 31 Jan 2014 06:13:37 +0000
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