(RTTNews) - The European markets may open lower on Friday following weak overseas cues and amid caution ahead of the release of GDP reports from France and Germany.

The markets across the Asia-Pacific region were mostly lower Friday as lower oil prices and a subdued closing on Wall Street overnight raised concerns about a fragile economic recovery.

Crude oil prices fell by $2.34 to close below $77 on Thursday as the dollar strengthened against 14 of 16 global currencies and an inventory report from the U.S Energy Administration showed crude inventories rose more than expected last week. In Asian trading on Friday, the commodity is little changed below $77 a barrel.

On Wall Street, the major averages declined notably overnight, more than offsetting a moderate rally in the previous session, despite the release of better-than-expected jobs data and further signs of life on the merger and acquisitions front. The Dow moved down 0.91%, the Nasdaq by 0.83% and the S&P 500 by 1.03%.

In corporate news, British Airways Plc and Spanish airline Iberia Lineas Aereas de Espana SA said that they have agreed to merge in an all-share deal, ending more than a year of negotiations.

French builder Vinci SA said its nine-month sales fell 4.6 percent to 23.6 billion euros, but confirmed its revenue forecast for the full year.

Communication and entertainment company Vivendi reported a plunge in third quarter profit compared to last year. However, on an adjusted basis, the company posted a rise in profit from the prior year period.

In a filing with the regulatory, Cephalon, Inc. disclosed that it, and certain of its subsidiaries entered into a binding agreement with Barr Pharmaceuticals LLC and Barr Laboratories, Inc. to settle a pending patent infringement lawsuit related to Fentora.

French construction firm Bouygues SA said its third-quarter revenue fell 4.2%, but kept its FY2009 guidance.

Porsche Automobil Holding SE posted a 4.4 billion-euro pretax loss in the 12 months to July 31 after recognizing for the cash-settlement options on Volkswagen AG shares.

Spanish antitrust regulator fined six European insurance companies, including Mapfre, Asefa and Caser, along with Swiss Re, Munich Re and Scor, of France, a total of euro 120.7 million for price fixing on building-defect coverage during the Spanish housing boom.

French investment bank Natixis returned to profit in the third quarter after a series of losses, helped by a rebound in financial markets.

The European markets closed on a mixed note Thursday, as telecoms and airline stocks advanced, while heavily-weighted energy and mining stocks declined.

The FTSEurofirst 300 index of pan-European blue chips closed 0.10% higher, while the narrower DJ Stoxx 50 index rose 0.12%. Around Europe, the U.K.’s FTSE 100 index rose 0.19%, but France’s CAC 40 index fell 0.17% and Germany’s DAX index declined 0.08%.

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Posted in Categories: Eurozone, Releases, Stocks, Switzerland, UK, USA.

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