European markets hovered near record highs as investors awaited an interest rate decision from the European Central Bank later in the week. The Swiss inflation rate eased in February, largely because of slower food price inflation.
The benchmark index in Germany extended weekly gains, but indexes in France and the U.K. struggled. Inflation in the eurozone edged lower but stayed above the target level set by the central bank, and German retail sales declined after consumers battled high prices and elevated interest rates.
European government bond yields rose after inflation eased in Spain and France. Germany's jobless rate rose to a 3-year high in January, and payrolls were stable in France in the fourth quarter. The Swiss GDP expanded in the fourth quarter and full year of 2023.
European stock market indexes traded in a tight range, and the business confidence indicator unexpectedly declined in February. Moreover, the manufacturing confidence index in Italy decreased, and Sweden's producer price index eased.
Casino Guichard reported deeper losses in fiscal 2023. Worldline reported a loss after taking a large goodwill impairment charge. Taylor Wimpey reported a decline in annual profit in 2023. Just Eat Takeaway.com reported narrower loss in the last fiscal year.
Consumer confidence remained weak in Germany and France amid rising costs of living, higher interest rates, and worries about job security. The UK's retail inflation edged lower in January.
Benchmark indexes in Frankfurt and Paris edged higher, but the index in London traded lower. Bond yields, the euro, and the pound advanced after investors lowered rate-cut expectations.
European markets hovered over recent highs, and bond yields and the euro edged higher. The German economy contracted in the fourth quarter, as previously estimated.
Benchmark indexes in Paris and Frankfurt advanced but they declined in London ahead of the release of the latest policy meeting minutes by the Federal Reserve and the European Central Bank.
European markets hovered near record highs, bond yields edged higher, and the euro, the pound, and the Swiss franc advanced. Natural gas prices in the eurozone dropped to an 8-month low.
European markets extended weekly gains, and investors looked beyond rate uncertainty. Germany's wholesale prices declined for the tenth month in a row. UK retail sales rebounded in January amid a broad improvement in all categories except apparel.
The UK economy contracted for the second quarter in a row in the fourth quarter amid broad weakness in activities. Positive earnings from Renault, Schneider Electric, Stellantis, Commerzbank, Orange and Safran supported the advance in European indexes.
European markets edged slightly higher, and bond yields held firm in the Euro Area and the UK. The euro and the pound weakened and hovered near three-month lows. The Dutch GDP returned to growth in the fourth quarter of 2023, and UK inflation held steady in January.
European markets held steady. In the fourth quarter of 2023, the jobless rate in France matched the rate in the previous quarter, but in the UK, it eased from the previous quarter. Swiss inflation eased in January.
