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.
Euro zone inflation in November eased for the first time since June 2021 but held steady in France. German unemployment rate rose and Spain's retail sales improved in October.
European markets trended lower and investors reacted to corporate and economic news. Inflation in Spain and Germany inched lower after energy price inflation eased.
European markets reacted negatively to the rising unrest in China as many European companies rely on Chinese demand for luxury products and supply of intermediate goods based in the second largest economy.
European markets closed higher for the week and investors looked ahead to the rate decision next week. The euro gained for the fourth day in a row and investors anticipate at least 50 basis points rate increase.
European markets looked beyond rising tensions in the region with Russia and bond yields held steady. German wholesale inflation eased but still held near a 4-decade high level.
European markets extended weekly gains after banks, energy and utilities companies led the advance. The ECB president said rates may have to be lifted high enough to restrict economic activities. Swiss industrial production rose for the seventh quarter in a row.
The eurozone estimate of inflation acceleration was revised lower. New vehicle registrations rose for the third month in a row, but remained sharply lower from pre-pandemic levels. Swiss exports declined for Trade surplus edged up in October.
European investors digested economic growth, international traded and employment data in the region. Natural gas prices rose for the second day in a row above 10%.
Informa lifted annual revenue outlook on the rebound in events industry outside China. Rheinmetall AG agreed to acquire arms subsidiary of Spain-based MaxamCorp.
Consumer price inflation accelerated in October and the UK economy shrank in the third quarter. Stock indexes logged weekly gains despite the deepening energy crisis and looming recession.
