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Global markets: Eurozone economy slows to 0.3 per cent

By Commodity News Service Canada

WINNIPEG, November 13 – The following is a glance at the news moving markets globally.

CISCO LOWERS SECOND QUARTER OUTLOOK AMID CHINA SLOWDOWN
Cisco, a technology and networking company, lowered its outlook for its second quarter.

Despite strong earnings in the first quarter, a weaker Chinese economy could hurt sales, which caused the company forecast to growth between zero and two per cent.

EUROZONE GDP SLOWED IN THIRD QUARTER
Europe’s growth slowed to just 0.3 per cent in the third quarter, according to data released on Friday.

France saw growth, but still missed analyst expectations, Finland’s economy contracted, and weak international trade undermined Germany and Italy, analysts say.

US RETAIL SALES DISAPPOINT
US retail sales fell short of analyst expectations in October.

Retail sales gained by 0.1 per cent, the country’s commerce department said on Friday. Analysts had projected a 0.3 per cent increase.

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