European markets closed lower tracking losses in New York in holiday-thin trading. UK third quarter GDP contraction was revised higher. Italian wholesale prices accelerated. Russian Ural oil dropped below the cap level.
Benchmark indexes rose between 1.5% and 2.0% on improvement in holiday sales and positive earnings surprises. Natural gas prices fell below €100 per MWh.
European markets closed higher and natural gas prices eased after the European Union approved price cap. Labor market slack remained stable and wage growth in the Euro Area slowed to a one-year low.
Central banks in the eurozone, UK and Switzerland lifted rates by 50 basis points, revised higher inflation outlook for the next three years and lowered economic growth expectations.
European markets struggled ahead of rate decisions from central bankers. Inflation in the UK and Spain edged lower and industrial output declined for the first time in three months.
European markets advanced on the hopes of rate moderation this week in the U.S. and Europe. Energy prices rose on the worries that supply may lag the demand of natural gas in 2023.
Benchmark indexes in Europe fell 0.4% ahead of rate decisions later in the week. The German residential sector struggled with rising cancellations and higher construction costs.
Carl Zeiss reported strong annual sales increase and guided slightly weaker outlook. Credit Suisse gets one step closer in completing its capital raising plan. Anglo American said production volumes are likely to fall.
The global gloom gripped European stocks and crude oil prices dropped to this year's low. UK home prices eased for the third month in a row, but still above pre-pandemic levels.
European markets traded lower after German retail sales fell unexpectedly in October and business activities shrank for the fifth month in a row in November.
Wholesale inflation in the eurozone eased in October but remained elevated fueled by elevated energy prices. The euro and the British pound closed higher for the second week in a row.
Tech stocks led the rebound in Europe, bond yields eased and the euro and the pound edged higher for the third day in a row after the U.S. inflation moderated.
