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.
European markets advanced following the market surge in New York. Bond yields dropped and the euro and the pound advanced after the U.S. dollar registered its worst one-day loss in 13 years.
European markets reacted to local corporate earnings releases and generally ignored the U.S. midterm election results. Energy prices eased on mild weather and elevated natural gas storage in the region.
Associated British Foods lifted its annual dividend and initiated stock repurchase plan. Schaeffler AG plans to reduce worldwide staff and trim overcapacity. Deutsche Post lifted its annual outlook and cited strength in its international services.
European markets shifted focus to corporate earnings and overlooked rising rates, looming recession and deepening energy crisis. Benchmark indexes in the UK, France and Germany closed up for the week.
The Bank of England lifted its key lending rate and said inflation is too high and economic pain last longer than anticipated. Norway lifted its key rate by 25 basis points. Swiss inflation eased. BMW reiterated its 2022 annual outlook.
Germany's import price inflation in September eased after energy prices cooled. UK manufacturing contracted at the fastest pace in three years in more than two years.
