Wednesday featured an abundance of data from the European Monetary Union. The French unemployment rate reached a 30-month low, coming in at 9.7 percent following government measures to encourage firing. Despite this, French consumer confidence hit a record low of -33, suggesting that the riots had a huge effect on French consumers. Italian inflation rose less than expected, 2.4 percent, due to lower oil prices. Euro-zone GDP rose 0.6 percent, matching estimates and reaching the highest growth rate in one year. The French riots dragged down confidence figures for the entire Euro-zone as economic confidence fell to 99.9, failing to match the 100.5 consensus expectation.European equity markets extended their opening losses by mid-morning on Wednesday on a quiet day for earning releases but hopes of further consolidation in the telecoms sector after confirmation of one of the largest private equity deals this year provided a talking point for investors. The FTSE Eurofirst 300 fell 5.6 points or 0.4 percent to 1,237 while the German Xetra Dax lost 21.7 points or 0.4 percent at 5,177.8 and the French CAC 40 slipped 29.3 points or 0.6 percent at 4,559.4.