European stocks fell with miners and auto-related shares, extending their first weekly drop in three, as data around the world signaled worsening economic conditions.

Antofagasta Plc and Glencore Plc slipped at least 4.5 percent as commodity producers extended a rout. Volkswagen AG slid 2.7 percent, pacing losses among carmakers, after Manager Magazin said a drop in its Chinese deliveries could hurt earnings by more than 1 billion euros ($1.1 billion). BASF SE declined 4.6 percent after its earnings trailed projections.

The Stoxx Europe 600 Index dropped 0.9 percent to 394.64 at the close of trading, reversing intraday gains of 0.5 percent. A report showed U.S. new-home sales unexpectedly fell in June. Data earlier showed a surprise weakening in Chinese manufacturing, while euro-area output missed projections.

"The news flow has been on the downside," said Ralf Zimmerman, a strategist at Bankhaus Lampe KG in Dusseldorf, Germany. "We had weak Chinese PMIs and declining PMIs in Europe, soft figures on the corporate front. We need more positive global news or else the downwards move in market will persist."

The Stoxx 600 fell for a fourth day, taking its weekly retreat to 2.7 percent. Commodity producers fell the most among industry groups during the period.

Among other shares moving on corporate news, Aggreko Plc tumbled 12 percent after saying it expects full-year profit to fall short of estimates.

Lonmin Plc slumped 17 percent on concern it will need to raise funds after saying it may cut as many as 6,000 jobs. Diageo Plc dropped 2.5 percent after saying the U.S. Securities and Exchange Commission is looking into its distribution practices there.

Vodafone Group Plc climbed 2.8 percent after service revenue increased more than projected. Thales SA surged to the highest price since 1998 after first-half sales beat estimates.

Major U.S. stock-indexes lower on Friday for the fourth straight day after a mixed bag of earnings from big companies and the downward spiral of commodities. Metal prices hit multi-year lows as weaker-than-expected data from China and the euro zone raised concerns about global growth while oil prices neared four-month lows. The three major indexes were poised to end the week in the red after disappointing corporate results and forecasts added to concerns about the U.S. profit outlook. Data on Friday showed new U.S. single-family home sales fell in June to their lowest level in seven months and May's sales were revised sharply lower. Other data showed manufacturing activity nudged up in July after slowing for three straight months.

Almost all of Dow stocks in negative area (27 of 30). Top looser - E. I. du Pont de Nemours and Company (DD, -2.45%). Top gainer - Visa Inc. (V, +4.46).

Almost all of S&P index sectors also in negative area. Top looser - Basic Materials (-1.6%). Top gainer - Services (+0.2%).

At the moment:

Dow 17551.00 -125.00 -0.71%

S&P 500 2083.50 -15.00 -0.71%

Nasdaq 100 4585.25 -34.75 -0.75%

10 Year yield 2,27% -0,01

Oil 47.99 -0.46 -0.95%

Gold 1085.00 -9.10 -0.83%

Polish equity market closed lower on Friday. The broad market measure, the WIG Index, slid down 0.24%. Sector performance within the WIG Index was mixed. Banks (-2.18%) and informational technologies (-1.20%) recorded the most notable declines, while chemicals (+1.97%), materials (+1.95%) and oil and gas names (+1.83%) fared the best.

The large-cap stocks' measure, the WIG30 Index lost 0.32%. Within the Index components, PEKAO (WSE: PEO), BZ WBK (WSE: BZW) and PKO BP (WSE: PKO) were the weakest performers, returning losses of 2.68%-3%. On the other side of the ledger, PKN ORLEN (WSE: PKN) led the advancers pack with a 2.83% growth, bouncing back after yesterday's sharp decline. It was followed by BOGDANKA (WSE: LWB) and GRUPA AZOTY (WSE: ATT), gaining 2.69% and 2.06% respectively.

USDJPY 122.50 (1.16bn) 123.00, 123.20, 123.25, 123.50 124.00 (1.12bn), 124.10, 124.50, 124.85 125.00 (960m), 125.50, 126.00

EURUSD 1.0725, 1.0790 1.0800 (2.03bn), 1.0840, 1.0850 (1bn), 1.0890 1.0900 (1.2bn), 1.0945 (511m), 1.0960 1.1000 (1.39bn) 1.1100 (595m), 1.1130 (503m)

GBPUSD 1.5420 1.5500, 1.5550 1.5700

USDCAD 1.2900/05

AUDUSD 0.7100 (500m) 0.7325, 0.7360, 0.7375 0.7450/55 0.7525 (504m)

AUDNZD 1.0850 1.0900 1.1050 1.1100 (908m)

USDCHF 0.9525 0.9600 (1.39bn) 0.9700 0.9800 (1bn)

U.S. stock-index futures were little changed, as a rally in Amazon.com Inc. and Visa Inc. after better-than-expected results .

Global Stocks:

Nikkei 20,544.53 -139.42 -0.7%

Hang Seng 25,128.51 -270.34 -1.1%

Shanghai Composite 4,070.83 -53.09 -1.3%

FTSE 6,643.38 -11.63 -0.2%

CAC 5,089.54 +2.80 +0.1%

DAX 11,466.32 -45.79 -0.4%

Crude oil $48.94 (+1.03%)

Gold $1082.60 (-1.05%)

(company / ticker / price / change, % / volume)

Upgrades:

Amazon (AMZN) upgraded to Buy from Neutral at B. Riley & Co., target $646

Walt Disney (DIS) upgraded from Hold to Buy at Topeka Capital Markets, target raised from $105 to $138

General Motors (GM) upgraded to Neutral from Underperform at Credit Suisse

Downgrades:

Other:

AT&T (T) reiterated at Mkt Perform at FBR Capital, target raised from $36 to $38

Amazon (AMZN) target raised:

to $700 from $500 at Nomura;

to $550 from $475 at Sun Trust Rbsn Humphrey;

to $650 from $460 at Citigroup;

to $650 from $520 at Piper Jaffray;

to $700 from $565 at Cowen;

to $650 from $550 at UBS;

to $700 from $480 at Credit Suisse;

to $650 from $500 at RBC Capital Mkts;

to $670 from $460 at Cantor Fitzgerald.

Visa (V) target raised:

to $82 from $79 at RBC Capital Mkts;

to $70 from $66 at Topeka Capital Markets;

to $80 from $70 at FBR Capital.

Starbucks (SBUX) reiterated at Outperform, target raised from $60 to $64 at RBC Capital Mkts

3M (MMM) target lowered to $148 from $150 at RBC Capital Mkts

Caterpillar (CAT) target lowered to $92 from $94 at Stifel

Data

01:35 Japan Manufacturing PMI (Preliminary) July 50.1 51.4

01:45 China Markit/Caixin Manufacturing PMI (Preliminary) July 49.4 49.7 48.2

07:00 France Services PMI (Preliminary) July 54.1 53.8 52

07:00 France Manufacturing PMI (Preliminary) July 50.7 50.7 49.6

07:30 Germany Services PMI (Preliminary) July 53.8 53.9 53.7

07:30 Germany Manufacturing PMI (Preliminary) July 51.9 51.9 51.5

08:00 Eurozone Manufacturing PMI (Preliminary) July 52.5 52.5 52.2

08:00 Eurozone Services PMI (Preliminary) July 54.4 54.2 53.8

08:30 United Kingdom BBA Mortgage Approvals June 42.9 Revised From 42.5 44.5

The euro fell sharply against the dollar, approaching to yesterday's low. The EUR / USD has come under selling pressure after German PMI figures reflected the weakness of the euro zone and the region's economy. Preliminary results of the research, published by Markit Economics, showed: the private sector in Germany continued to expand in July, but at a slower pace than last month. Preliminary composite index of business activity, which covers the manufacturing sector and services sector fell in July to 53.4 points against 53.7 in June. Recall index value above 50 indicates expansion in the sector. PMI index for the services sector was 53.7 in July, compared to 53.8 points in June. It was expected that the figure will reach 53.9 points. Meanwhile, the manufacturing PMI fell to 51.5 in July from 51.9 in June. Experts predicted that the index would remain unchanged.

Meanwhile, another report showed that economic growth in the euro area slowed down in July, but the pace of expansion remained one of the largest in the last four years. According to the data, the composite Purchasing Managers' Index, which assesses changes in the manufacturing sector and the service sector, fell in July to 53,7punkta compared to 54.2 points in June (maximum four years). Despite the decline, the index remains slightly above its average over the first half of the year. It was expected that the index will be 54. The last reading was the sixth largest since mid-2011. The report also stated that the PMI index in the services sector declined in July, more than expected - to 53.8 points against 54.4 in June, and forecasts at the level of 54.2 points. At the same time, the manufacturing PMI index fell to 52.2 from 52.5 in June. Economists had forecast that the index would remain unchanged.

The pound fell against the dollar moderately updating yesterday's low and fixed below the level of $ 1.5500. The market continues to analyze the weak data on UK retail sales. Recall, retail sales (including motor fuel) decreased by 0.2 percent compared to the previous month. Recall the end of May sales rose by 0.3 percent (revised from 0.2 percent). It was the first drop in sales for the three months. Economists had expected an increase of 0.3 percent. Also, the data showed that, except for the sale of motor fuel sales declined by 0.2 percent, while economists had forecast an increase of 0.4 percent, which would correspond to a change in May. On an annual basis, retail sales growth (including motor fuel) slowed to 4 percent from 4.7 percent in May. Economists had expected sales to rise 4.9 percent.

In addition, investors expect the data on new home sales in the US in June. Analysts predict that the index remained unchanged compared with the May level of 546 thousand., Became the highest since 2008, to 548 thousand. Homes based on annual rates.

EUR / USD: during the European session the pair fell to $ 1.0922

GBP / USD: during the European session the pair fell to $ 1.5465

USD / JPY: during the European session, the pair was trading in the range of Y123.82-Y124.04

At 13:00 GMT Belgium will present the index business sentiment in June. At 13:45 GMT the United States will release the index of business activity in the manufacturing sector in July, and at 14:00 GMT will declare the amount of new home sales for June.

Offers 1.1000 1.1050 1.1080 1.1100

Bids 1.0920 1.0900 1.0875 1.0850 1.0800 1.0785 1.0750

GBP/USD

Offers 1.5530 1.5585 1.5680 1.5700-10 1.5725-30 1.5750 1.5780 1.5800

Bids 1.5450 1.5425-30 1.5400 1.5330

EUR/GBP

Offers 0.7100 0.7120-25 0.7150

Bids 0.7045 0.6975 0.6950 0.6925 0.6900 0.6885 0.6850 0.6830 0.6800

EUR/JPY

Offers 136.00 136.50 137.00

Bids 135.00 134.40 134.00 133.80 133.50

USD/JPY

Offers 124.15 124.50 124.75 125.00 125.30 125.50

Bids 123.50-55 123.20-25 123.00 122.80 122.50-60 122.00

AUD/USD

Offers 0.7325 0.7400 0.7450 0.7485 0.7500 0.7520 0.7550 0.7580 0.7600

Bids 0.7265 0.7250 0.7200

EUR/USD: $1.0800(E1.78bn), $1.0850(E1.0bn), $1.0900(E1.2bn), $1.1000(E1.4bn)

USD/JPY: Y122.50($1.16bn), Y124.00 ($1.12bn), Y125.00($960mn)

AUD/USD: $0.7320(A$200mn), $0.7525(A$505mn)

USD/SGD: Sgd1.3700($797mn)

West Texas Intermediate futures for September delivery rebounded to $48.73 (+0.58%), while Brent crude climbed to $55.48 (+0.38%). However analysts say these gains are unlikely to be sustained as glut concerns persist. Weakness of preliminary data on Chinese manufacturing also weighs on oil as it intensifies concerns over demand. This is going to be the fifth straight week of declines for WTI.

Concerns over additional supplies from Iran are also in place. Iran has large oil reserves on land as well as at sea, and Saudi Arabia, OPEC's leading producer, is not going to cut output or exports to help Tehran sell its crude. Therefore, whenever Iranian oil exports begin to grow, they should put further downward pressure on oil prices.

Gold declined to $1,083.50 (-0.97%) after Markit economics said in its preliminary report that China's Manufacturing PMI contracted once again to 48.2 in July from 49.4 reported previously. This decline spurred demand concerns, which added to expectations of a rate hike by the Federal Reserve and muted inflation worries.

Citibank analyst David Wilson believes that bullion is likely remain under pressure up to the Federal Reserve's September policy meeting. "The markets are all focusing on a September rate hike, so assuming that is when it occurs, you have to think that gold is going to remain under downward pressure up until that point," he said.

U.S. stock indices declined for the third straight day after Caterpillar, 3M and American Express posted weak reports.

Meanwhile an index of economic activity in the U.S. rose substantially in the previous month due to improvements in output and employment. The Conference Board reported that the index of leading indicators, which measures economic conditions in the next three to six months, rose 0.6% after a 0.8% increase in May.

The Dow Jones industrial average declined 119.09 points, or 0.7%, to 17,731.92 (the index turned negative for the year). The S&P 500 fell 12 points, or 0.6%, to 2,102.15 (all of its 10 sectors traded lower). The Nasdaq Composite lost 25.36 points, or 0.5%, to 5,146.41.

In Asia this morning Hong Kong Hang Seng fell 0.86%, or 218.90 points, to 25,179.95. China Shanghai Composite Index rose 1.09%, or 44.89 points, to 4,168.82. The Nikkei lost 0.58%, or 119.85 points, to 20,564.10.

Asian stocks outside China fell amid declines in U.S. equities. Chinese stocks rose on regulators' support ignoring a preliminary report from Markit Economics, which showed that China Manufacturing PMI fell to 48.2 in July from 49.4 reported previously. This is the index's fifth contraction in a row.

Economic calendar (GMT0):

Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

01:35 Japan Manufacturing PMI (Preliminary) July 50.1 51.4

01:45 China Markit/Caixin Manufacturing PMI (Preliminary) July 49.4 49.7 48.2

The euro slightly declined ahead of manufacturing and services PMI data for the euro zone and its member-states.

The Australian dollar fell after Markit Economics published weak preliminary Manufacturing PMI data for China. The index contracted to 48.2 in July compared to June final reading of 49.7. Analysts expected the index to come in at 49.7. Any reading below 50 points to contraction. China is Australia's major trading partner.

Standard&Poor's agency put additional pressure on the AUD saying that it will cut the country's rating if it does not fix its budget issues. That's why economists expect the Reserve Bank of Australia to lower its benchmark rate further.

The greenback advanced after favorable employment data intensified expectations of a rate hike in the U.S.

EUR/USD: the pair fell to $1.0965 in Asian trade

USD/JPY: the pair traded around Y123.85-05

GBP/USD: the pair fell to $1.5500

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

07:00 France Services PMI (Preliminary) July 54.1 53.8

07:00 France Manufacturing PMI (Preliminary) July 50.7 50.7

07:30 Germany Services PMI (Preliminary) July 53.8 53.9

07:30 Germany Manufacturing PMI (Preliminary) July 51.9 51.9

08:00 Eurozone Manufacturing PMI (Preliminary) July 52.5 52.5

08:00 Eurozone Services PMI (Preliminary) July 54.4 54.2

08:30 United Kingdom BBA Mortgage Approvals June 42.5

13:00 Belgium Business Climate July -3.9 -4.0

13:45 U.S. Manufacturing PMI (Finally) July 54.0 53.6

14:00 U.S. New Home Sales June 546 546

EUR / USD

Resistance levels (open interest**, contracts)

$1.1105 (2212)

$1.1064 (834)

$1.1037 (380)

Price at time of writing this review: $1.0965

Support levels (open interest**, contracts):

$1.0925 (1696)

$1.0901 (4161)

$1.0873 (3051)

Comments:

- Overall open interest on the CALL options with the expiration date August, 7 is 53184 contracts, with the maximum number of contracts with strike price $1,1200 (3548);

- Overall open interest on the PUT options with the expiration date August, 7 is 62313 contracts, with the maximum number of contracts with strike price $1,0800 (6045);

- The ratio of PUT/CALL was 1.17 versus 1.18 from the previous trading day according to data from July, 23

GBP/USD

Resistance levels (open interest**, contracts)

$1.5802 (1799)

$1.5704 (1136)

$1.5606 (2158)

Price at time of writing this review: $1.5512

Support levels (open interest**, contracts):

$1.5394 (1326)

$1.5297 (1370)

$1.5198 (1358)

Comments:

- Overall open interest on the CALL options with the expiration date August, 7 is 21936 contracts, with the maximum number of contracts with strike price $1,5750 (3212);

- Overall open interest on the PUT options with the expiration date August, 7 is 22669 contracts, with the maximum number of contracts with strike price $1,5250 (2083);

- The ratio of PUT/CALL was 1.03 versus 1.05 from the previous trading day according to data from July, 23

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

(raw materials / closing price /% change)

Oil 48.85 +0.83%

Gold 1,089.40 -0.43%

(index / closing price / change items /% change)

Nikkei 225 20,683.95 +90.28 +0.44 %

Hang Seng 25,398.85 +116.23 +0.46 %

S&P/ASX 200 5,590.29 -24.28 -0.43 %

Shanghai Composite 4,124.39 +98.34 +2.44 %

FTSE 100 6,655.01 -12.33 -0.18 %

CAC 40 5,086.74 +4.17 +0.08 %

Xetra DAX 11,512.11 -8.56 -0.07 %

S&P 500 2,102.15 -12.00 -0.57 %

NASDAQ Composite 5,146.41 -25.36 -0.49 %

Dow Jones 17,731.92 -119.12 -0.67 %

(pare/closed(GMT +3)/change, %)

EUR/USD $1,0983 +0,50%

GBP/USD $1,5514 -0,63%

USD/CHF Chf0,9596 0,00%

USD/JPY Y123,91 -0,02%

EUR/JPY Y136,09 +0,48%

GBP/JPY Y192,24 -0,64%

AUD/USD $0,7351 -0,41%

NZD/USD $0,6699 +0,96%

USD/CAD C$1,3039 +0,08%