European markets lacked direction in Monday's trading as investor focus remained on earnings and upcoming rate decision. Investors are also looking forward to the release of key economic data and rate decisions.
European markets struggled to advance amid a lack of domestic catalyst. France's proposed fiscal budget estimates a 5% deficit and calls for a mix of spending cuts and new taxes.
Germany's nominal and real retail sales growth accelerated in August, driven by an increase in food and nonfood sales. Norway's consumer price inflation accelerated in September to 3.2%, the highest pace since May.
European markets struggled to advance for the second day in a row, and investors shifted their attentions to the rate path after the China stimulus rally faded.
The weakness in resource, luxury goods, and automobile stocks dragged down European indexes. Germany's industrial output rebounded, confirming a volatile trend over the last year. France's goods trade deficit widened amid the persistent deficit in energy and manufactured products.
European markets were under pressure after Germany's factory orders declined and the slight increase in the Euro Area retail sales. Higher bond yields also weighed on the market sentiment.
European markets are on track to extend weekly losses between 1% and 3% amid rising tensions in the Middle East. Crude oil prices rebounded 8% this week, stoking fears of resurgent inflation.
European markets traded down amid rising tensions in the Middle East and uncertainty related to the U.S. port workers strike. Eurozone private sector activities contracted for the first time in seven months. Swiss consumer price inflation dropped to a three-year low.
European market indexes wavered amid rising fears of a wider war in the Middle East, which could potentially disrupt international trade in crude oil and manufactured goods. The jobless rate in the Euro Area held steady at a record low in August.
Eurozone inflation fell at a faster-than-expected pace in September, driven by a sharp decline in energy prices. Manufacturing woes deepened in the Euro Area as producers struggled with easing growth in orders and output.
European bond yields edged higher despite the cooling of inflation in the region. Italy reported cooler inflation in September, after France and Spain confirmed weakening inflation last week.
Market indexes in Frankfurt and Paris extended their weekly gains to 4% and in London gained 1% amid Chinese leaders pledge of significant fiscal measures following the raft of monetary measures earlier in the week.
BASF announced its plans to lower dividend payments over the next four years. Commerzbank estimated higher profit over the next three years. SMA Solar announced a companywide restructuring. H&M quarterly results fell short of expectations.
The Swiss National Bank lowered its lending rate for the third time in a row and said additional cuts are likely. The overall lending growth to households and non-financial corporations in the eurozone accelerated in August.
Luxury stocks and vehicle markers advanced for the second consecutive day after China announced more stimulus measures. Rightmove's board rejected the revised offer from Australia's REA Group. Valmet, the Finnish engineering company, won a billion euro order from Brazil.
