European Markets Rise, But Nestle Weak

(RTTNews) - The European markets were in positive territory on Friday, following firm cues from Wall Street overnight where stocks posted strong gains in the wake of upbeat inflation and jobless claims data.

On the economic front, Eurozone inflation turned negative as initially estimated in September, final data from Eurostat showed. Consumer prices fell 0.1 percent in September from prior year, offsetting a 0.1 percent rise in August. The rate matched flash estimate published on September 30.

Meanwhile, Eurozone's trade surplus in August declined more-than-forecast from the previous month, as exports declined and imports increased, figures from Eurostat showed. The seasonally adjusted trade surplus fell to 19.8 billion euros from 22.4 billion euros in July. Economists had expected 22.1 billion euros surplus.

The Euro Stoxx 50 index of eurozone bluechip stocks was adding 0.67 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, was gaining 0.84 percent.

The German DAX, the French CAC 40, the FTSE 100 index of the U.K. and Switzerland's SMI rose between 0.5 percent and 0.6 percent.

In Frankfurt, RWE gained 2.7 percent and E.ON added 2.4 percent.

Commerzbank rose 1.4 percent and Deutsche Bank added 1.2 percent.

Hugo Boss cut its sales and earnings forecasts for 2015, citing weak third-quarter sales in China and the U.S. The stock plunged more than 10 percent.

Volkswagen declined 2 percent after announcing recalls in Europe. BMW was trading lower and Daimler rose modestly.

In Paris, Carrefour climbed more than 6 percent after announcing sales data.

Societe Generale, BNP Paribas and Credit Agricole were rising between 2.1 percent and 1.7 percent.

However, Gucci owner Kering and luxury group LVMH were notably lower.

In London, Glencore added around 4 percent and Anglo American was notably higher.

BP and Royal Dutch Shell were up 2.2 percent each.

Tesco gained about 3 percent, Shire added 2.6 percent and Capita rose 2.4 percent.

Bucking the trend, luxury group Burberry fell 2 percent.

Nestle fell 2.1 percent in Zurich. The foods giant reported lower net sales in its nine-month period, impacted by the withdrawal of Maggi noodles in India and slower than expected recovery in China. Nestle also cut its organic growth target.

The Asian stocks turned in a mixed performance after fresh data suggested the annual core inflation in the U.S. rose a better-than-expected 1.9 percent in September, dampening expectations for a delayed rate hike by the Federal Reserve.

In the U.S., futures point to a cautious open on Wall Street. In the previous session, the Dow and S&P 500 hit their highest levels in nearly two months overnight as investors shrugged off mixed earnings and sluggish regional manufacturing reports and remained hopeful that the Federal Reserve will delay hiking interest rates this year.

Crude for November delivery rose $0.46 to $46.84 per barrel, while December gold dropped $8.1 to $1179.4 a troy ounce.