The euro dropped to a new low and the British pound plunged to a new 4-decade low. Italian bond yields rose and spread with German yields widened after the center-right coalition led the latest election results.
European markets accelerated declines as central banks intensify campaign to tame high inflation. Bond yields rose across the eurozone and in the U.K. on the rising deficit worries. Energy prices declined 3%.
European markets traded higher tracking the rise in U.S. indexes. Energy prices advanced on the rising tensions with Russia and natural gas prices stayed above 200 euro-mark. Germany following France nationalized its natural gas based electric utility company.
European markets closed mixed and natural gas prices fell to a two-month low. Bundesbank estimated economic conditions to weaken in the current and next quarters and the pace of inflation to pick up.
stocks extended losses in Europe after fears of global economic slowdown were highlighted by the World Bank. Italy is set to record its largest annual trade deficit in a decade on the soaring cost of energy import.
European leaders mull rationing with no end in sight of the energy crisis. Eurozone trade balance swung to a deficit after the cost of energy imports soared.
The rally in European markets fizzled and benchmark indexes closed down after the U.S. inflation was hotter than expected signaling a large rate hike at the next Fed's meeting. UK jobless rate drops to a 48-year low.
Resource companies led the gainers after crude oil prices rose but natural gas dropped to a 4-week low. Reinsurance companies were in focus ahead of another rate hikes on rising loss trends. Lufthansa and pilots union agreed on a pay hike plan.
The euro advanced to a 3-week high after the largest interest rate hike in two decades last week. The UK GDP expanded at a slower-than-expected pace and trade deficit shrank in July. Italian industrial production gained in July.
European markets extended weekly gains and energy prices declined for the second week in a row. Natural gas prices plunged for the week after surging as much as 65% in August.
The European Central Bank hiked rates citing worsening economic conditions and sustained high inflation. The central bank lowered its economic growth projections and revised higher inflation estimates and added rates are far away from bringing down inflation to the target rate of 2%.
SGL Carbon revised higher its annual revenues and operating earnings outlook. Barratt Developments home completions rebound to pre-pandemic level. James Fisher reiterated its annual outlook despite weak first-half.
