Polish equity market retreated on Friday. The broad market measure, the WIG Index, fell by 1.25%. All sectors in the WIG Index were down. Chemicals (-4.13%) fared the worst, followed by constructions (-3.45%) and food sector (-3.36%).

The large-cap stocks' measure, the WIG30 Index, lost 1.13%. There were only a few gainers among the Index components. ENERGA (WSE: ENG) and CYFROWY POLSAT (WSE: CPS) benefited the most, advancing 0.96% and 0.95% respectively. They were followed by PEKAO (WSE: PEO) and EUROCASH (WSE: EUR), adding a respective 0.53% and 0.19%. On the other side of the ledger, GRUPA AZOTY (WSE: ATT) and SYNTHOS (WSE: SNS), were the weakest performers, dropping 5.84% and 4.04% respectively. Other major decliners included PGE (WSE: PGE), TVN (WSE: TVN), KERNEL (WSE: KER) and LOTOS (WSE: LTS), slumping 2.29%-3.96%.

Stock indices closed lower on worries over a slowdown in the Chinese economy. The Chinese preliminary Markit/Caixin manufacturing Purchasing Managers' Index (PMI) decreased to 47.1 in August from 47.8 in July, missing expectations for a decline to 47.7, and hitting a 77-month low.

Greek Prime Minister Alexis Tsipras has submitted his resignation on Thursday evening and called for early elections. He is seeking a mandate to implement reforms.

The election is expected to be held on September 20.

Meanwhile, the economic data from the Eurozone was mostly positive. Eurozone's preliminary consumer confidence index rose to -6.8 in August from -7.1 in July, beating expectations for a gain to -6.9.

Eurozone's preliminary manufacturing PMI remained unchanged at 52.4 in August. Analysts had expected index to decline to 52.2.

Eurozone's preliminary services PMI rose to 54.3 in August from 54.0 in July. Analysts had expected the index to remain unchanged at 54.0.

Markit's Senior Economist Rob Dobson said that Eurozone's economy "is still experiencing one of its best periods of economic growth and job creation during the past four years".

"GDP growth is tracking close to 0.4% so far in the third quarter, slightly above the 0.3% seen in quarter 2, highlighting the resilience of the economy through last month's rollercoaster events of the Greek debt crisis and the ongoing negotiations to tie up the full details surrounding the third bailout," he added.

Germany's preliminary manufacturing PMI climbed to 53.2 in August from 51.8 in July, exceeding forecasts of a decline to 51.7.

Germany's preliminary services PMI was down to 53.6 in August from 53.8 in July. Analysts had expected index to climb to 53.9.

Markit's economist Oliver Kolodseike noted that the German economy was driven by higher output and new orders.

"Based on PMI data available for the third quarter so far, we should expect German GDP to increase at a similar rate to the 0.4% seen in the three months to June," he noted.

France's preliminary manufacturing PMI dropped to 48.6 in August from 49.6 in July, missing forecasts of a rise to 49.7.

France's preliminary services PMI fell to 51.8 in August from 52.0 in July. Analysts had expected the index to remain unchanged at 52.0.

"Output growth in France's private sector economy cooled to a four-month low in August, suggesting that third-quarter GDP may disappoint again following stagnation in Q2. An improvement in service providers' business expectations to a near three-and-a-half year high provided some rare positive news, but manufacturing continued to struggle amid a sharper drop in new orders," the Senior Economist at Markit Jack Kennedy said.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,187.65 -180.24 -2.83 %

DAX 10,124.52 -307.67 -2.95 %

CAC 40 4,630.99 -152.56 -3.19 %

Major U.S. stock-indexes slumped on Friday, falling for the fourth straight session, as more grim data from China spooked investors already worried about the pace of global growth. The Dow Jones industrial average was poised to for its sharpest weekly fall since November, 2011. The Nasdaq composite and the S&P 500 were on track for their steepest weekly fall since May 2012. Data from China showed its giant manufacturing sector shrank at the fastest pace since the depths of the financial crisis in 2009, exacerbating worries about its health that have been preying on economist's minds for months.

All Dow stocks in negative area (30 of 30). Top looser - NIKE, Inc. (NKE, -3.93%).

All S&P index sectors also in negative area. Top looser - Conglomerates (-2.4%).

At the moment:

Dow 16679.00 -238.00 -1.41%

S&P 500 1996.75 -28.75 -1.42%

Nasdaq 100 4284.50 -81.75 -1.87%

10 Year yield 2,06% -0,03

Oil 40.36 -0.96 -2.32%

Gold 1156.90 +3.70 +0.32%

The European Commission released its preliminary consumer confidence figures for the Eurozone on Friday. Eurozone's preliminary consumer confidence index rose to -6.8 in August from -7.1 in July, beating expectations for a gain to -6.9.

European Union's consumer confidence index increased to -4.6 in August from -4.9% in July.

The Swiss National Bank (SNB) released its money supply data on Friday. M3 money supply climbed at an annual rate of 1.9% in July, after a 2.1% in June.

M1 money supply was up 0.7% year-on-year in July, after a 0.8% gain in June.

Official reserves rose to $600.6 billion in June from $599.8 billion in May.

Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for the U.S. on Friday. The U.S. preliminary manufacturing purchasing managers' index (PMI) declined to 52.9 in August from 53.8 in July, missing expectations for an increase to 54.0. It was the lowest level since October 2013.

A reading above 50 indicates expansion in economic activity.

The decline was driven by a slower expansion in output, new orders and employment.

"According to survey respondents, the strong dollar continued to put pressure on export sales and competitiveness, while heightened global economic uncertainty appeared to have dampened client spending both at home and abroad. Alongside this, manufacturers of investment goods widely cited growth headwinds from the slump in capital spending across the energy sector," Markit Senior Economist Tim Moore.

U.S. Stock futures fell on a global stock selloff sparked by world growth concerns showed no signs of relenting.

Global Stocks:

Nikkei 19,435.83 -597.69 -2.98%

Hang Seng 22,409.62 -347.85 -1.53%

Shanghai Composite 3,509.98 -154.31 -4.21%

FTSE 6,274.97 -92.92 -1.46%

CAC 4,718.46 -65.09 -1.36%

DAX 10,302.19 -130.00 -1.25%

Crude oil $40.83 (-1.16%)

Gold $1154.80 (+0.15%)

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

The head of the Eurogroup, Jeroen Dijsselbloem, on Thursday urged the Greek government to hold the elections.

"I hope that they are as quick as possible so that the least possible amount of time is wasted. I think the intention of Prime Minister Tsipras is to get a more stable government," he said.

Upgrades:

Downgrades:

Other:

Walt Disney (DIS) target lowered to $89 from $98 at Cowen

Statistics Canada released retail sales data on Friday. Canadian retail sales rose by 0.6% in June, exceeding expectations for a 0.2% gain, after a 0.9% increase in May. May's figure was revised down from a 1.0% gain.

The rise was driven by higher sales at gasoline stations and at electronics and appliance stores. Sales at gasoline stations climbed 2.6% in June, while sales at electronics and appliance stores jumped 9.4%.

Sales at food and beverage stores were flat in June, while motor vehicle and parts sales were down 0.1%.

Sales rose in 8 of 11 subsectors.

Canadian retail sales excluding automobiles were up 0.8% in June, beating expectations for a 0.5% rise, after a 0.8% gain in May. May's figure was revised down from a 0.9% rise.

Statistics Canada released consumer price inflation data on Friday. Canadian consumer price inflation increased 0.1% in July, in line with expectations, after a 0.2% gain in June.

On a yearly basis, the consumer price index rose to 1.3% in July from 1.0% in June, missing expectations for a 1.4% increase.

The consumer price index was partly driven by higher food and automobiles prices.

Food prices climbed 3.2% in July, while automobiles prices increased 2.5%.

Gasoline prices dropped 12.2% in July from the same month a year earlier.

The Canadian core consumer price index, which excludes some volatile goods, was flat in July, after a flat reading in June.

On a yearly basis, core consumer price index in Canada was up to 2.4% in July from 2.3% in June, in line with expectations.

The Bank of Canada's inflation target is 2.0%.

Company reported Q3 profit of $1.53 per share versus $1.44 consensus. Revenues fell 21.6% y/y to $6.84 bln versus $7.2 bln consensus.

Company expected Q4 equipment sales down 24% y/y, current consensus represents a 19% y/y decline.

Company lowered FY15 net income outlook to $1.8 bln from $1.9 bln; FY15 equipment sales outlook lowered to -21% from -19% (consensus -19%).

DE fell to $86.71 (-4.35%) on the premarket.

The preliminary Markit/Nikkei manufacturing Purchasing Managers' Index (PMI) for Japan increased to 51.9 in August from 51.2 in July.

A reading below 50 indicates contraction of activity.

The index was partly driven by a rise in output, new orders and employment.

"Latest survey data indicated a further improvement in operating conditions in the Japanese manufacturing sector. New order growth accelerated to the second fastest this year so far, while production increased at a similar pace to July's five-month record," economist at Markit, Amy Brownbill, said.

Stock indices traded lower on worries over a slowdown in the Chinese economy. The Chinese preliminary Markit/Caixin manufacturing Purchasing Managers' Index (PMI) decreased to 47.1 in August from 47.8 in July, missing expectations for a decline to 47.7, and hitting a 77-month low.

Greek Prime Minister Alexis Tsipras has submitted his resignation on Thursday evening and called for early elections. He is seeking a mandate to implement reforms.

The election is expected to be held on September 20.

Meanwhile, the economic data from the Eurozone was mostly positive. Eurozone's preliminary manufacturing PMI remained unchanged at 52.4 in August. Analysts had expected index to decline to 52.2.

Eurozone's preliminary services PMI rose to 54.3 in August from 54.0 in July. Analysts had expected the index to remain unchanged at 54.0.

Markit's Senior Economist Rob Dobson said that Eurozone's economy "is still experiencing one of its best periods of economic growth and job creation during the past four years".

"GDP growth is tracking close to 0.4% so far in the third quarter, slightly above the 0.3% seen in quarter 2, highlighting the resilience of the economy through last month's rollercoaster events of the Greek debt crisis and the ongoing negotiations to tie up the full details surrounding the third bailout," he added.

Germany's preliminary manufacturing PMI climbed to 53.2 in August from 51.8 in July, exceeding forecasts of a decline to 51.7.

Germany's preliminary services PMI was down to 53.6 in August from 53.8 in July. Analysts had expected index to climb to 53.9.

Markit's economist Oliver Kolodseike noted that the German economy was driven by higher output and new orders.

"Based on PMI data available for the third quarter so far, we should expect German GDP to increase at a similar rate to the 0.4% seen in the three months to June," he noted.

France's preliminary manufacturing PMI dropped to 48.6 in August from 49.6 in July, missing forecasts of a rise to 49.7.

France's preliminary services PMI fell to 51.8 in August from 52.0 in July. Analysts had expected the index to remain unchanged at 52.0.

"Output growth in France's private sector economy cooled to a four-month low in August, suggesting that third-quarter GDP may disappoint again following stagnation in Q2. An improvement in service providers' business expectations to a near three-and-a-half year high provided some rare positive news, but manufacturing continued to struggle amid a sharper drop in new orders," the Senior Economist at Markit Jack Kennedy said.

Current figures:

Name Price Change Change %

FTSE 100 6,335.28 -32.61 -0.51 %

DAX 10,430.13 -2.06 -0.02 %

CAC 40 4,772.98 -10.57 -0.22 %

The Office for National Statistics released public sector net borrowing for the U.K. on Friday. The public sector net borrowing in the U.K. declined to -£2.07 billion in July from £8.64 billion in June, beating expectations for a drop to -£2.4 billion. June's figure was revised up from £8.58 billion.

Public sector net borrowing excluding public sector banks fell by £1.4 billion to a surplus of £1.29 billion.

The increase was driven by the tax receipts.

Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for France on Friday. France's preliminary manufacturing PMI dropped to 48.6 in August from 49.6 in July, missing forecasts of a rise to 49.7.

France's preliminary services PMI fell to 51.8 in August from 52.0 in July. Analysts had expected the index to remain unchanged at 52.0.

"Output growth in France's private sector economy cooled to a four-month low in August, suggesting that third-quarter GDP may disappoint again following stagnation in Q2. An improvement in service providers' business expectations to a near three-and-a-half year high provided some rare positive news, but manufacturing continued to struggle amid a sharper drop in new orders," the Senior Economist at Markit Jack Kennedy said.

Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for Germany on Friday. Germany's preliminary manufacturing PMI climbed to 53.2 in August from 51.8 in July, exceeding forecasts of a decline to 51.7.

Germany's preliminary services PMI was down to 53.6 in August from 53.8 in July. Analysts had expected index to climb to 53.9.

Markit's economist Oliver Kolodseike noted that the German economy was driven by higher output and new orders.

"Based on PMI data available for the third quarter so far, we should expect German GDP to increase at a similar rate to the 0.4% seen in the three months to June," he noted.

Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for the Eurozone on Friday. Eurozone's preliminary manufacturing PMI remained unchanged at 52.4 in August. Analysts had expected index to decline to 52.2.

Eurozone's preliminary services PMI rose to 54.3 in August from 54.0 in July. Analysts had expected the index to remain unchanged at 54.0.

Markit's Senior Economist Rob Dobson said that Eurozone's economy "is still experiencing one of its best periods of economic growth and job creation during the past four years".

"GDP growth is tracking close to 0.4% so far in the third quarter, slightly above the 0.3% seen in quarter 2, highlighting the resilience of the economy through last month's rollercoaster events of the Greek debt crisis and the ongoing negotiations to tie up the full details surrounding the third bailout," he added.

Market research group GfK released its consumer confidence index for Germany on Friday. German Gfk consumer confidence index fell to 9.9 in September from 10.1 in August.

Analysts had expected the index to remain unchanged at 10.1.

The decrease was driven by declines in economic and income expectations and the willingness to buy.

The economic expectations index plunged to 16.6 points in August to 18.4 in July, while the willingness to buy index fell 3.4 points to 52.0.

The income expectations index dropped by 5.1 points in September and is now at 53.5.

"Despite the decline, it cannot be said that the economic motor will stutter or even stall. As before, the indicator level is high, suggesting that private consumption can fulfil its ascribed role as an important pillar of economic development this year. Since it can be assumed that conditions for a good consumer economy in Germany will remain favourable in the coming months, such as employment, income and inflation, there is a good chance that the consumer climate will stabilize again. Possible risks and burdens first and foremost are justified in the unstable international situation, especially in the Far and Middle East," Gfk noted.

The geopolitical situation escalated after North Korean leader Kim Jong-un ordered the army to be combat ready. He gave South Korea 48 hours to stop propaganda broadcasts across the demilitarized zone.

In turn, South Korea has said it does not intend to stop broadcasting.

Tensions on the Korean peninsula have flared in recent weeks.

The two Koreas are still officially at war.

The Chinese preliminary Markit/Caixin manufacturing Purchasing Managers' Index (PMI) decreased to 47.1 in August from 47.8 in July, missing expectations for a decline to 47.7, and hitting a 77-month low.

A reading below 50 indicates contraction of activity.

The output index fell to 46.6 in August from 47.1 in July, reaching a 45-month low. New export orders also declined.

Dr. He Fan, Chief Economist at Caixin Insight Group, said that the index indicates that China's economy "is still in the process of bottoming out".

"But overall, the likelihood of a systemic risk remains under control and the structure of the economy is still improving. There is still pressure on the front of maintaining growth rates, and to realize the goal set for this year the government needs to fine tune fiscal and monetary policies to ensure macroeconomic stability and speed up the structural reform. This will lead the market to confidence and renew the vigour of the economy," he added.

Greek Prime Minister Alexis Tsipras has submitted his resignation on Thursday evening and called for early elections.

"I will shortly meet with the president of the republic and present my resignation and that of my government. I want to submit to the Greek people everything I have done so that they can decide once more," he said.

Tsipras is seeking a mandate to implement reforms.

The election is expected to be held on September 20.

Concerns over global economic growth and uncertainties over prospects of Fed interest rates weighed on U.S. stock indices.

The Dow Jones Industrial Average dropped 358.04, or 2.1%, to 16990.69 (the lowest level since October). The S&P 500 lost 43.88, or 2.1%, to 2035.73 (all of its sectors declined). The Nasdaq Composite fell 141.56, or 2.8%, to 4877.49.

The leading indicators index from the Conference Board fell unexpectedly by 0.2% in July for the first time in almost two years. In June the index rose by 0.6%. Economists expected a 0.2% increase in July.

This morning in Asia Hong Kong Hang Seng dropped 2.32%, or 527.41 points, to 22,230.06. China Shanghai Composite Index lost 3.04%, or 111.47 points, to 3,552.82. The Nikkei fell 2.65%, or 530.19 points, to 19,503.33.

Preliminary data from Markit Economics showed that China Manufacturing PMI declined to 47.1 in August from July final reading of 47.8. Any reading below 50 indicates contraction. These data added to concerns over economic growth of the world's second-biggest economy.

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

HANG SENG 22,675.3 -492.55 -2.13%

S&P/ASX 200 5,288.6 -91.59 -1.70%

TOPIX 1,623.88 -24.60 -1.49%

SHANGHAI COMP 3,692.55 -101.56 -2.68%

FTSE 100 6,367.89 -35.56 -0.56%

CAC 40 4,783.55 -100.55 -2.06%

Xetra DAX 10,432.19 -249.96 -2.34%

S&P 500 2,035.73 -43.88 -2.11%

NASDAQ Composite 4,877.49 -141.56 -2.82%

Dow Jones 16,990.69 -358.04 -2.06%