Breaking News
Investing Pro 0
Cyber Monday Extended SALE: Up to 60% OFF InvestingPro+ CLAIM OFFER

European stocks mixed; Jet2 soars ahead of German Ifo release

Stock Markets Nov 24, 2022 03:41AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
EUR/USD
0.22%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UK100
+0.81%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
FCHI
+1.04%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DE40
+0.29%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
KGF
+0.12%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
RCOP
+1.85%
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 were mixed Thursday, as investors digested the minutes from the latest Federal Reserve meeting ahead of a gauge of German business confidence and the account of the last ECB meeting.

At 03:40 ET (08:40 GMT), the DAX index in Germany traded 0.7% higher, CAC 40 in France gained 0.4%, while the FTSE 100 in the U.K. fell 0.1%.

The minutes from the early November FOMC meeting increased the prospect of the Federal Reserve easing the pace of its aggressive interest rate hikes going forward.

Investors now largely expect the Fed to hike by 50 basis points to 4.25%-4.5% at the December policy meeting, after four consecutive increases of 75 basis points.

The European Central Bank publishes the account of its latest meeting later in the session, with the policymakers in a difficult position as Eurozone inflation has climbed above 10% while the flash November PMI readings suggested the region had entered a recession.

The German Ifo Business Climate index for November is also due later in the session, with investors looking to see the extent of confidence in the most important economy in the Eurozone.

There are also a number of ECB speakers due, including Vice President Luis de Guindos, Board member Andrea Enria and Executive Board member Isabel Schnabel.

In corporate news, Jet2 (LON:JET2) stock rose 3.7% after the leisure airline said it now expects annual pretax profit to top estimates after a surge in half-year earnings that was fuelled by solid customer demand.

Remy Cointreau (EPA:RCOP) stock fell 2.9% after the drinks company said the second half of its fiscal year would reflect a return to normal consumption trends after two years of "exceptional growth".

Kingfisher (LON:KGF) stock fell 2% after the home improvement chain lowered the top end of its guidance for full-year 2022/23 pretax profit even after reporting a slight improvement in its third-quarter like-for-like sales.

Crude oil prices fell Thursday, continuing the previous session’s selloff as traders digested the proposed price cap on Russian oil from the Group of Seven countries. 

The G7 is looking at a cap on Russian seaborne oil at $65-$70 a barrel, according to reports Wednesday, although more talks are scheduled for later Thursday as this has yet to be agreed.

The range would be higher than markets had expected, and is seen as less likely to provoke Russian President Vladimir Putin into disrupting global supply.

Elsewhere, the Energy Information Administration reported that U.S. crude inventories fell by 3.7 million barrels last week, more than expected, but both gasoline and distillate inventories rose substantially.

By 03:40 ET, U.S. crude futures traded 0.4% lower at $77.61 a barrel, while the Brent contract fell 0.6% to $84.87. Both contracts fell more than 3% last session.

Additionally, gold futures rose 0.6% to $1,756.35/oz, while EUR/USD traded 0.2% higher at 1.0414.

European stocks mixed; Jet2 soars ahead of German Ifo release
 

Related Articles

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