European Shares Seen Opening Mixed Amid Plethora Of Risks

(RTTNews) - European stocks may open on a mixed note on Friday after Chinese growth figures missed expectations, suggesting that there was downward pressure on the world's second-largest economy due to the ongoing Sino-U.S. trade war.

China's GDP climbed an annual 6.5 percent in the third quarter of 2018- shy of estimates for 6.6 percent and down from 6.7 percent in the previous three months.

Industrial production climbed 5.8 percent year-on-year in September, shy of forecasts for 6.0 percent and down from 6.1 percent in August.

However, retail sales climbed an annual 9.2 percent and fixed asset investment gained 5.4 percent to beat forecasts.

Public sector finance data from the U.K. and current account figures from euro area are due later in the session, headlining a light day for the European economic news.

Asian markets are turning in a mixed performance while gold edged higher on safe-haven demand. Oil edged up slightly in Asian trade, but remained on course for a second weekly drop on concerns about rising U.S. stockpiles.

Crude oil futures settled down 1.6 percent at five-week lows on Thursday, after having fallen by 3 percent on Wednesday.

Brent crude prices fell below the $80-a-barrel threshold for the first time in nearly a month as the ongoing trade dispute between the U.S. and China as well as expectations for faster interest-rate increases in the U.S. cast uncertainty on global growth outlook.

The euro hovered near a one-week low against the dollar after the European Commission said Italy's 2019 budget draft is in serious breach of EU budget rules.

Overnight, U.S. stocks fell sharply as worries surrounding higher interest rates, U.S.-Saudi relations, and Italy's controversial budget plans sapped investors' appetite for risk.

The Dow dropped 1.3 percent, the S&P 500 shed 1.4 percent and the tech-heavy Nasdaq Composite fell 2.1 percent.

European markets ended Thursday's session lower as investors watched Brexit developments and pondered over the newly released minutes from the Federal Reserve's September meeting.

The pan-European Stoxx Europe 600 index gave up half a percent. The German DAX tumbled 1.1 percent, France's CAC 40 index declined 0.6 percent and the U.K.'s FTSE 100 eased 0.4 percent.
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