PARIS (Alliance News) - Most European markets are losing on Friday, following recent gains, after German factory orders declined more than expected in May as both domestic and foreign orders decreased from April. Trading was subdued as US markets will be closed for the Independence Day.
New orders in manufacturing fell by seasonally adjusted 1.7% month-on-month in May, provisional data from Destatis showed. Economists had forecast a 1.1% fall in new orders after rising revised 3.4% in April.
Construction sector activity in Germany deteriorated in June at the sharpest pace in 15 months, led by a steep fall in new orders, prompting firms to reduce workforce, survey figures from Markit Economics showed.
The Euro Stoxx 50 index of eurozone bluechip stocks is losing 0.22%, while the Stoxx Europe 50 index, which includes some major UK companies, is falling 0.02%.
The German DAX is down 0.11% and the French CAC 40 is falling 0.17%. The UK'sFTSE 100 is marginally lower, while Switzerland's SMI is fractionally up.
In Frankfurt, steel giant ThyssenKrupp is adding 1.5%. Airline Lufthansa is advancing around 1%.
Leg Immobilien is gaining 3.5%. The property investment company was raised to ''Buy'' from ''Hold'' at Deutsche Bank.
Daimler reported strong growth in sales of Mercedes-Benz in the first half of the year. The stock is modestly down.
Volkswagen is fractionally lower. Sports-car maker Porsche, owned by the auto giant, Thursday said it increased its stake in engineering group Bertrandt AG by nearly four percentage points to about 29%.
In Paris, Societe Generale and BNP Paribas are losing 1.7% each. Macquarie cut BNP to ''Neutral'' from ''Outperform.''
Technip, which announced a new contract, is in the red.
Alstom is gaining 1.7% and Bouygues is gaining moderately. The French stock regulator said, the deal by the French government to acquire a 20% stake in Alstom from Bouygues tantamounts to concerted action. The ruling will make it expensive for Paris to acquire the stake.
In London, Sports Direct is losing 1% and National Grid is falling 0.9%.
Rio Tinto and Anglo American are losing moderately.
Antofagasta was raised to ''Equalweight'' from ''Underweight'' at Morgan Stanley. The stock is up 1.1%.
easyJet is gaining 2.4% after reporting traffic data.
Xchanging, which announced an acquisition, is climbing over 9%.
Erste Group plunged over 14% in Vienna. The company expects risk costs to rise from the planned 1.7 billion euros to about 2.4 billion euros in 2014 as a result of increased provisions in Hungary and Romania.
The Asian stocks rose broadly, after a report released by the Labor Department on Thursday showed that employment in the US rose by much more than anticipated in the month of June. However, gains were muted amid the Independence Day holiday in the US
Crude for August delivery is losing USD0.23 to USD103.83 per barrel, while gold is gaining USD1.1 to USD1321.7 a troy ounce.