European Stocks Trade Lower on Worries Over Rising Bond Yields

By Investors Hub

European stocks are trading lower on Friday as worries over rising bond yields and budget disputes in Washington kept investors nervous.

While the U.K.’s FTSE 100 Index is down by 0.9 percent, the French CAC 40 Index and the German DAX Index are both down by 1.5 percent.

TalkTalk Telecom has tumbled in London, a day after the company warned on profits and slashed its dividend.

Transport and logistics company A.P. Møller – Mærsk A/S has also moved lower after its fourth quarter profit missed expectations.

French asset manager Amundi has also come under pressure after it set out a new growth target for the 2018-2020 period.

Meanwhile, Belgium’s Umicore has jumped after the company reported better than expected full-year results.

Shares of L’Oreal have also advanced in Paris after strong demand in Asia helped the cosmetics giant boost its fourth quarter sales.

On the data front, French industrial production expanded more than expected in December, reversing a drop in November, statistical office Insee said.

Industrial production grew 0.5 percent month-on-month, in contrast to a 0.3 percent drop in November. Output was expected to grow 0.1 percent.

U.K. industrial output decreased 1.3 percent month-on-month in December, marking the first decrease in nine months, while the country’s visible trade deficit widened at the end of the year, separate reports showed.