Markets are a bit lower early in the European trading session.
Britain’s FTSE 100, France’s CAC 40, and Germany’s Dax are all down by just under 1%.
Today’s losses follow a negative trading session in the U.S. Markets turn lower after the Federal Reserve published its latest FOMC minutes, which suggested a tapering of quantitative easing could begin in one of the next few FOMC meetings.
Earlier, we learned that France’s private sector economy may have contracted in November. The Flash France Composite Output Index sank to 48.5 from 50. 5 in October.
“Renewed weakness was evident across both services and manufacturing, and the poor set of figures underline the fragility of the economy in the face of a persistently anaemic demand environment,” noted Markit economist Jack Kennedy. “Although remaining above the levels seen in the first half of the year, PMI data highlight the risk of a return to recession for France in Q4 following the – 0.1% fall in GDP during Q3.””