European markets down, Spain and Greece rise on IMF's Lagarde (Barcelona) - The annual IMF/World Bank meetings saw IMF Chief Lagarde willing to lower austerity and give more time to meet budget targets to the pressured countries in the Eurozone, which crashes against Germany's point of view. These headlines, alongside to the announcement that this year's Nobel Peace Prize will be awarded to the European Union as a morale boost to keep the project alive, aren't keeping the European bourses from losses.

The German DAX 30 and the French CAC 40 are down by -0.20% and -0.25%, and the Italian FTSE MIB sheds -0.25%. On the 'green' are the Greek ATHEX and the Spanish IBEX 35, 'defended' by IMF's Lagarde, up by +4.07% and +0.53% on Friday.

The Eurozone industrial production s.a. (MoM) rose +0.6% in August like it did in July, surprising market analysts that were expecting a -0.4% contraction. The annualized w.d.a. figure contracted further from -2.8% (revised down from 2.3%) to -2.9%, but much better than the -4.2% consensus.

The Italian CPI inflation report for September came in line with consensus estimates. The month change of the headline figure was quite different from the EU normalized data, 0.0% vs +2.1%. The annualized data was relatively similar, rising to +3.2% (from +3.0%) and to +3.4% (from +3.3%), respectively. The French current account deficit widened from €-2.5B to €-4B in August.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a higher opening between +0.12% and +0.27% ahead of US September PPI and the preliminary Reuters/Michigan Consumer Sentiment for October. WTI crude oil is up by +0.02%, at $92.06, and Gold rises by +0.04%, at $1768.

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