European Markets Edge Higher In Cautious Trading

Bridgette Randall
08 Jul, 2022
New York City

European markets traded mixed after two days of gain in the region. 

The DAX index increased 0.9% to 12,966.40, the CAC-40 index increased 0.2% to 6,020.47, and the FTSE 100 index fell 0.6% to 7,143.87. 

European market indexes were cautiously optimistic ahead of the release of U.S. jobs report. 

Stocks turned weaker after the U.S. non-farm payrolls increased 372,000 in June, sharply higher than expected. 

The strong jobs report raised the prospect of another large rate hike at the Fed's next meeting on July 26. 

In regional news, Italy's industrial production declined in May and France's current account and trade deficit rose in May. Norway's trade surplus increased in June and Dutch industrial production increased at a slower pace in May. 

Italy's industrial production decreased for the first time in four months in May, the statistical office Istat said on Friday. 

Industrial production decreased 1.1% in May after rising 1.4% in April on a monthly basis and a first decline since January when production fell 3.3%. 

France's trade deficit widened to 12.99 billion euros from 12.71 billion euros in April, the custom office said on Friday. 

Current account deficit increased to 3.9 billion euros from 2.7 billion euros in April, the Bank of France said on Friday. 

Norway's trade surplus rose in June after exports surged, Statistics Norway said on Friday. 

Norway's trade surplus increased to NOK 87.46 billion from NOK 25.07 a year ago. 

June exports jumped 77.9% after natural gas shipment soared 232.1% and crude oil deliveries rose 59.9%. 

Mining companies in the region traded lower after a 3-day rally on the worries that the rising cases of coronavirus in China may impact the future demand. 

Antofagasta, Glencore, and Anglo American fell between 1% and 2%. 

Holcim AG gained 4.0% to 41.68 Swiss franc after the Swiss company agreed to acquire Romania's leading concrete-mix maker General Beton Romania S.R.l.

JD Sports Fashion PLC increased 1.5% to 124.10 pence after the apparel retailer appointed Andrew Higginson as Chair of the group. 

Higginson  was Chair of William Morrison Supermarkets plc from January 2015 until the takeover of the business by private equity firm CD&R LLP in November 2021.

TAG Immobilien AG plunged 8.4% to