PARIS (dpa-AFX) - European shares are likely to open on a mixed note on Friday, tracking weak cues from Asian markets and on lingering concerns about Brexit uncertainty and skepticism about U.S.-China trade managing to agree on a long term trade deal before the expiry of the 90-day truce period.
Asian markets were mostly lower after the latest batch of economic data from China showed industrial output in the country grew by 5.4 percent in November, slower than the 5.9 percent growth seen a month earlier. Retail sales in China increased by 8.1 percent in November, after rising 8.6 percent in October.
The conclusion of ECB's Asset Purchase Program and the lowering of growth projections for Eurozone will weigh as well.
Investors are also likely to closely follow the developments on the Brexit front. British Prime Minister Theresa May is currently in Brussels, attending the European Union summit. May reportedly said on Thursday that she was not expecting a 'breakthrough' on Brexit agreement at this week's EU summit and added that she would focus on the assurances over the 'backstop' plan to avoid a manned Irish border.
Economic data from Eurozone will provide some direction to the market.
On the economic front, data on wholesale price inflation in Germany for November at 2 AM ET.
At 3 PM ET, Consumer price inflation data for Spain is due for release.
At 3.30 AM ET, Germany PMI Manufacturing report will be out.
At 4 AM ET, a report on manufacturing activity in Eurozone is due.
In commodities today, crude oil futures were declining $0.25, or 0.48%, at $52.33 a barrel.
Gold futures were lower by $2.25, or 0.18%, at $1,245.15 an ounce. Silver and Copper futures for March were down 0.6% and 0.4%, at $14.760 an ounce and $2.755 per pound, respectively.
On Thursday, the European markets ended mixed with investors largely treading a cautious approach after the ECB confirmed that it will end its massive Asset Purchase Programme in December.
ECB President Mario Draghi's warning that the 'balance of risks is moving to the downside,' and the lowering of GDP and inflation forecasts for the eurozone also weighed on sentiment.
The European Central Bank left its interest rates unchanged. The euro area growth forecast for next year was trimmed to 1.7 percent from 1.8 percent. The outlook for this year was cut to 1.9 percent from 2 percent.
Among the major markets in Europe, U.K and Germany ended slightly weak with their benchmark indices FTSE and CAC 40 both losing 0.04%. France's CAC 40 edged down by 0.26 percent. Switzerland's SMI closed lower by 0.52 percent.
Copyright RTT News/dpa-AFX
© 2018 AFX News
