10 Things You Need To Know Before European Markets Open

REUTERS/Todd KorolOil prices are still tumbling.

Good morning! Here are the 10 most important things in markets today.

European Industrial Production Is Coming. At 10 a.m. GMT, we'll get the figure for the eurozone's industrial production in October. Analysts expected a 0.2% expansion from September, but German, French and Italian data have all disappointed already this week, suggesting the real figure may be worse.

Commerzbank Is Nearing A $1 Billion (€806.7 million) US Settlement. Germany's Commerzbank has nearly reached a $1 billion settlement agreement with US authorities over allegations that it broke anti-money laundering rules and defied international sanctions, according to the Financial Times. 

Oil Prices Keep On Tumbling. WTI Crude, one of the two major international benchmarks for oil prices, fell below $60 per barrel for the first time since July 2009.

And Halliburton Slashed 1,000 Jobs. Halliburton, the world's second biggest oil services company, said Thursday it is slashing 1,000 jobs in its eastern hemisphere offices amid tumbling global oil prices. The layoffs, which are effective immediately, represent 1.25 percent of Halliburton's 80,000-person workforce.

China's Industrial Output Fell Below Expectations.China's industrial output rose by a less-than-expected 7.2 percent in November from a year earlier, though retail sales expanded 11.7 percent, beating forecasts, the National Bureau of Statistics said on Friday.

The US House Passed A Major Funding Bill To Keep The Government Running. The US House of Representatives passed a $1.1 trillion (£699.7 trillion) spending bill late on Thursday to fund most federal agencies through Sept. 30, the end of the current fiscal year. The Department of Homeland Security will be funded only through February to give Republicans a chance early next year to try to stop President Barack Obama's immigration reforms.

Asian Markets Are Mixed. The Nikkei closed up 0.66% in the last session before Sunday's general election in Japan. China's Shanghai Composite is currently up 0.42% and Hong Kong's Hang Seng is effectively flat, down 0.10%.

Russia's Vladimir Putin And India's Narendra Modi Announced A Bundle Of Agreements. The two countries will build at least 10 nuclear power plants in India over the next 20 years, and will have a joint venture in exploring hydroelectric power projects in Asia. Additionally, Russia's state-owned Rosneft signed a preliminary agreement to supply India with 10 million tons of oil over the next 10 years.

Lending Club Shares Surged 56% On Its First Day. The online lending platform, which had its IPO yesterday, saw shares surge 56% in value. The firm was selling shares at $14, which rose to $23.43 by the end of the day.

Mexico Is Opening Its Oil Sector To Foreign Investors For The First Time. Mexico unveiled rules Thursday for the first phase of its historic opening of the oil sector to foreign investors, pledging transparent auctions in July for 14 shallow-water fields.