PARIS (Reuters) – The main European stock markets are moving in narrow gaps on Friday at the start of the session after several company results and uncertainties about the global economic situation.

In Paris, the CAC 40 nibbles 0.05% to 7,542.73 points around 07:55 GMT, thanks to EssilorLuxottica. In London, the FTSE 100 lost 0.16% and in Frankfurt, the Dax fell 0.21%.

The EuroStoxx 50 index is down 0.1%, the FTSEurofirst 300 0.3% and the Stoxx 600 0.12%.

The first results of S&P Global’s monthly surveys of purchasing managers show that the growth of private activity has accelerated in France and Germany, but the disparities are widening between services and industry.

Investors will follow indicators of activity in the United States in the afternoon, while statistics published on Thursday only reinforced fears of an upcoming recession in the world’s largest economy.

Concerns about the economy are weighing on oil prices and industrial metals. The European basic resources sector is currently posting the largest drop, at 2.63%.

ArcelorMittal fell by 2.54% and Rio Tinto nearly 4%.

In the news of listed companies, EssilorLuxottica climbed 5.18% after sales growth exceeded expectations.

“The remarkable inflection in year-over-year growth for a group that is overweight US consumers and has limited exposure to China is grabbing attention,” Jefferies said in a note.

Software maker SAP gained 1.37% as the announcement of better-than-expected sales growth in the first quarter took precedence over revised lower annual forecasts.

In Milan, Salvatore Ferragammo fell 6.85% after posting quarterly sales down due to a slowdown in the US market.

(Laetitia Volga, edited by Blandine Hénault)

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