European markets traded sideways as investors shifted focus to the release of corporate earnings. Market sentiment remained cautious despite optimism surrounding earnings because of economic growth worries and higher interest rates ahead.
European markets traded lower, crude oil and copper prices declined and the yields on European bonds were stable. The UK housing market faced more price pressure on the worries of rising mortgage rates.
European markets extended weekly gains after rate hike and inflation worries eased. Major averages in the region gained between 2% and 4% in the week. The Euro Area trade deficit plunged after imports fell faster than exports.
European market indexes traded higher in cautious trading and industrial production in the Euro Area slowed in May and UK's GDP contracted less-than-estimated in May.
The near-certain rising prospects of higher interest rates in the U.S. and the Euro Area kept stock market averages down. German industrial production declined in May but Italian retail sales rose at the fastest pace in four months. UK home prices dropped the most in 12 years in June.
European markets traded down on the worries that the U.S. rates are likely to go higher and stay elevated longer than previously estimated. German factory orders surged in May and Eurozone retail sales were flat from the previous month.
Market averages in Europe traded lower after services sector growth declined in the Euro Area, UK and China. Producer price inflation turned negative and dropped to the level last seen in December 2020.
German trade surplus dropped to a 5-month low in May after exports to the US, the UK and China. Spanish jobless fell to a 15-year low and stayed below 3 million for the 14th month in a row.
European markets traded higher and final reading on manufacturing showed ongoing weakening business conditions. Consumer price inflation in Switzerland eased in June partly because of price controls.
Consumer price inflation in the Euro Area fell in June and jobless rate held at a record low level in May. easing inflation worries and indicating tight labor market conditions. Benchmark indexes in France and Germany recorded double digit gains in the first half.
European Market indexes rebounded a day after central bankers reiterated their hawkish stance. Eurozone sentiment indicators declined, Spain's inflation dropped below 2% target rate and Swedish krona dropped to a new low.
European markets advanced following mixed regional economic data but supported by positive economic advances in the U.S. Italy's inflation dropped to a 14-month low, Consumer confidence in Germany declined by rose in France and Spain's retail sales surged.
European markets turned lower after ECB President Lagarde reiterated the central bank's commitment in lowering inflation to 2% and continuing its aggressive rate hike campaign.
European markets extended weekly losses a day after central banks raised rates and held out for more raises. Eurozone business activities index eased in June and UK retail sales unexpectedly rose in May.
