Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

European stocks largely unchanged; German GDP shows slight improvement

Stock Markets Nov 25, 2022 03:29AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
EUR/USD
-0.06%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UK100
+0.27%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
XAU/USD
-0.04%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
FCHI
+0.08%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DE30
+0.01%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
Gold
+0.54%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Peter Nurse

Investing.com - European stock markets traded largely unchanged Friday in thin trading conditions, as investors digested German growth and consumer confidence data.

At 03:30 ET (08:30 GMT), the DAX index in Germany traded 0.1% lower, CAC 40 in France traded flat, while the FTSE 100 in the U.K. rose 0.1%.

Germany's economy grew by a shade more than initially thought in the third quarter, according to data released Friday, as gross domestic product expanded by 0.4%, rather than the 0.3% reported in its first reading.

On an annual basis, the German GDP grew 1.2% in the third quarter, a sharp slowdown from the 1.7% growth seen in the same quarter a year ago when Europe’s largest economy still had momentum from its post-pandemic reopening.

The forward-looking GfK German consumer climate index also showed some signs of improvement, for the second straight month, climbing to -40.2, still close to its all-time low.

Speeches by ECB’s Kerstin af Jochnick and Luis de Guindos will also be of interest Friday, a day after the accounts of the Oct 26-27 meeting showed that policymakers feared that inflation may be getting entrenched so rates would need to rise further.

The ECB has increased rates by a record 75 basis points at its last two meetings as it tries to tackle Eurozone inflation running at double digits.

Activity is likely to be muted in Europe Friday, with little impetus expected from American investors as Thursday's Thanksgiving holiday extends to an early close on Wall Street Friday.

Crude oil prices edged higher Friday, bouncing amid thin liquidity and helped by a weaker U.S. dollar, which makes the commodity cheaper for foreign buyers.

However, crude markets are still set to post a third consecutive losing week as surging COVID-19 cases in China have prompted the world’s largest oil importer to reintroduce strict lockdown measures in several major cities, hitting economic activity and thus the demand for crude.

European Union and G7 officials are also reportedly discussing a cap on Russian seaborne oil at $65-$70 a barrel, a higher range than expected, dispelling fears that Moscow will slash oil exports to prevent selling at a loss.

By 03:30 ET, U.S. crude futures traded 1% higher at $78.75 a barrel, while the Brent contract rose 0.8% to $86.01. There was no WTI settlement on Thursday due to the U.S. Thanksgiving holiday.

Additionally, gold futures rose 0.4% to $1,752.65/oz, while EUR/USD traded 0.1% higher at 1.0419.

European stocks largely unchanged; German GDP shows slight improvement
 

Related Articles

Airbus may delay some 2023 jet deliveries -sources
Airbus may delay some 2023 jet deliveries -sources By Reuters - Nov 27, 2022

(This Nov. 25 story has been corrected to amend "idle waiting repairs" to "parked" in ninth paragraph) By Tim Hepher PARIS (Reuters) - Airbus is preparing the ground for further...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email