European stock futures go down; French Q1 GDP up
European stock markets slightly edged down on Friday as investors digest discouraging Chinese growth data and ahead of key economic data figures and first-quarter earnings season.
Germany’s DAX futures contract was 0.1% lower on early Friday trade. The U.K.’s FTSE 100 futures inched down 0.2%. The CAC 40 futures in France were unchanged.
The European markets were downbeat following China’s official manufacturing Purchasing Manager’s Index falling to 51.1 in April from 51.9 in March. However, further losses are capped since the S&P 500 index closed at a record high on Wall Street Thursday. Wall Street rallied after strong earnings from some tech giants as well as U.S. first-quarter GDP rising 6.4% brightened up the markets.
Helping the cause was France after it posted better-than-expected growth in the first quarter. France’s GDP climbed 0.4% from the fourth quarter, as consumer spending and business investment stood still despite coronavirus curbs.