Benchmark indexes extended weekly losses after a string of weak earnings, and the European Central Bank paused its aggressive rate hike campaign after ten hikes in a row.
European markets lacked direction, and bond yields edged lower ahead of interest rate decisions on Thursday. Investors reviewed a flood of earnings, including results from Deutsche Bank, Worldline, Fresnillo, Kering, and Essentra.
European benchmark indexes advanced after bond yields edged lower. Eurozone output contracted the most in three years in October. Crude oil prices edged higher as Israel stepped up its bombing campaign ahead of its ground offensive in Gaza.
European markets extended the previous week's losses, and bond yields continued to advance in the Euro Area. Banks, automakers, and industrial companies were among the leading decliners.
Benchmark indexes in Europe lacked direction, bond yields hovered near 12-year highs and the euro, the pound and the Swiss franc remained under pressure.
European markets accelerated decline after crude oil prices rose and the prospect of a wider conflict in the Middle East loomed. The consumer price inflation in the UK held steady but remained elevated and the Euro Area inflation was confirmed in September.
European markets struggled to get traction after bond yields rebounded and rate path worries lingered. The Euro Area trade deficit in August shrank following a sharp decline in energy prices and German wholesale deflation extended to the sixth month.
Elevated inflation in France and Spain kept investors on edge in European trading. Crude oil prices soared ahead of the Israeli military offensive in Gaza on the worries of the latest conflict widening to neighboring oil producing nations.
Worries rate path, lack of urgency from policymakers and looming economic slowdown divided investors in Europe. Resurgent energy prices also stoked worries of a rebound in inflation.
European markets rebounded, crude oil prices edged lower and bond yields eased. Natural gas futures advanced for the second day in a row after Israel asked Chevron to halt production at a field near its north coast.
European markets lacked direction and industrial production in Germany declined for the fifth month in 2023 but the critical automobile production rebounded in August.
European markets advanced after German factory orders rebounded in August following an increase in domestic and foreign demand. The UK home prices continued to slide lower for the fifth month in a row but prices still remain significantly above pre-pandemic levels.
German trade surplus in August soared from a year ago but eased from the previous month after exports to the U.S. fell and imports from China and the U.S. declined.
