European Markets Slide, BNP Paribas Hit

(RTTNews) - The European markets are trading lower on Friday afternoon, after Germany's retail sales fell unexpectedly in April. Miners were hit, amid fall in iron-ore prices.

Germany's retail sales fell unexpectedly in April after rising for three consecutive months, Destatis said. Retail sales turnover declined by a real 0.9 percent from March, when it was up 0.1 percent. Sales were expected to rise 0.2 percent.

The Euro Stoxx 50 index of eurozone bluechip stocks is losing 0.11 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.14 percent.

The German DAX, the UK's FTSE 100, the French CAC 40 and Switzerland's SMI are falling between 0.1 percent and 0.5 percent.

In Frankfurt, Commerzbank is losing 1.3 percent and Deutsche Bank is moderately lower.

Meanwhile, Deutsche Telekom is adding 1.2 percent. Infineon Technologies and Beiersdorf are advancing 0.9 percent each.

Singulus Technologies said today that its outlook is still optimistic. The stock is little changed.

In Paris, BNP Paribas is declining 5.2 percent, amid reports that the U.S. is seeking $10 billion to settle some investigations.

Credit Agricole and Societe Generale are falling 4.2 percent and 2.3 percent, respectively.

EDF is losing 3.7 percent. Essilor and Technip are notably lower.

In London, miners are on a downward course. Rio Tinto, Anglo American, Fresnillo and BHP Billiton are losing between 2.8 percent and 1.8 percent.

Fenner is declining 13 percent, as it sees full year pre-tax profit sharply below market expectations.

Hargreaves Services, which issued a trading update, is dropping over 8 percent.

Bucking the trend, Smith & Nephew is gaining close to 2 percent, amid talks of an acquisition offer from US-based Stryker.

The Asian stocks fell broadly after overnight data showed the world's biggest economy shrank by an annualized rate of 1 percent in the first quarter, the first contraction since early 2011 despite resilient demand from consumers.

In the U.S., futures point to a lower open on Wall Street. The major U.S. averages rose about half a percent each overnight, with the S&P 500 closing at a fresh record high, as investors brushed off the weak reading on first-quarter economic growth blaming an unusually cold weather for the contraction.

Crude for July delivery is falling $0.45 to $103.13 per barrel, while August gold is losing $3.5 to $1253.6 a troy ounce.