BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets fluctuated between small gains and losses throughout Friday's session and ended the day with mixed results. Traders were in a nervous mood ahead of some potentially market moving events this weekend.
Hurricane Irma, a category 4 storm, is expected to make landfall in Florida early Sunday. Meanwhile, North Korea is celebrating a holiday on Saturday, which could be a key date for another intercontinental ballistic missile launch.
Mining stocks turned in a weak performance at the end of the trading week. A slowdown in Chinese exports for the month of August weighed on the sector.
The pan-European Stoxx Europe 600 index advanced 0.14 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.00 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.18 percent.
The DAX of Germany climbed 0.06 percent, but the CAC 40 of France fell 0.02 percent. The FTSE 100 of the U.K. declined 0.26 percent and the SMI of Switzerland finished higher by 0.06 percent.
In Paris, Air France-KLM gained 2.50 percent after reporting higher passenger traffic in the month of August.
In London, Greene King sank 15.71 percent. The company said it remains cautious about the trading environment and expects the challenges of weaker consumer confidence, increased costs and increasing competition to persist over the near term.
Marks & Spencer declined 1.83 percent after Deutsche Bank reduced its price target on the stock.
Mining stocks were under pressure due to disappointing Chinese export data. Antofagasta dropped 4.11 percent and BHP Billiton fell 3.77 percent. Anglo American decreased 3.36 percent, Rio Tinto weakened by 3.10 percent and Glencore surrendered 1.48 percent.
Akzo Nobel dropped 0.64 percent in Amsterdam. The company issued a profit warning for the full year and announced that its Chief Financial Officer will step down due to health reasons.
German exports recovered in July but the pace of growth was weaker than forecast, data from Destatis showed Friday.
Exports grew 0.2 percent month-on-month in July, reversing a 2.7 percent fall in June. Shipments were forecast to climb 1.3 percent.
At the same time, imports advanced 2.2 percent, in contrast to a 4.4 percent decline in June. Nonetheless, the rate was slower than the expected 2.8 percent.
As a result, the trade surplus decreased to around adjusted EUR 19.6 billion from EUR 21.2 billion a month ago.
Germany's labor cost growth increased slightly in the second quarter after slowing in the first quarter, Destatis reported Friday. The index of labor cost gained 2.3 percent year-on-year, following a 2.2 percent rise in the first quarter.
France's industrial production increased as expected in July after falling in the previous month, the statistical office Insee reported Friday. Industrial output rose 0.5 percent month-over-month in July, reversing a 1.1 percent drop in June. The figure also matched consensus estimate.
UK industrial production grew at a slower pace in July due to weak oil and gas extraction, data from the Office for National Statistics showed Friday. Industrial production grew 0.2 percent month-on-month in July, slower than the 0.5 percent increase seen in June. The monthly rate came in line with expectations.
The UK visible trade deficit widened in three months to July primarily due to an increase in the imports of finished manufactured goods, the Office for National Statistics said Friday. The visible trade deficit increased by GBP 1.1 billion to GBP 34.4 billion in three months ended July.
China's exports increased at a slower pace in August on softening global demand, while imports growth exceeded expectations.
Exports increased 5.5 percent year-on-year in August, slower than July's initially estimated 7.2 percent growth, data from the General Administration of Customs revealed Friday. Shipments were forecast to grow 6 percent.
At the same time, imports advanced 13.3 percent annually, faster than the expected growth of 10 percent.
As a result, the trade surplus totaled $42 billion in August versus the expected level of $48.5 billion.
Wholesale inventories in the U.S. rose by more than anticipated in the month of July, according to a report released by the Commerce Department on Friday. The Commerce Department said wholesale inventories climbed by 0.6 percent in July, matching the downwardly revised increase in June.
Economists had expected inventories to rise by 0.4 percent compared to the 0.7 percent increase originally reported for the previous month.
Copyright RTT News/dpa-AFX