Market Updates
European Markets Extend Weekly Gains, Bond Yields Rise
Bridgette Randall
21 Oct, 2022
Frankfurt
European markets traded lower on the ongoing worries of looming recession and rising bond yields.
The UK retail sales fell 1.4% in September following the revised 1.7% decline in August, the Office for National Statistics said Friday.
A separate report showed a slight improvement in consumer confidence in October despite soaring inflation and political chaos.
The confidence index improved to -47 in October from -49 in September, showed the survey from the market research group GfK released Friday.
The DAX index rebounded from the loss of 2% to 0.3% to 12,730.90 the CAC-40 index fell 0.9% to 6,035.39 and the FTSE 100 index advanced 0.4% to 6,969.73.
For the week, the DAX index increased 2.4%, the CAC-40 index gained 2.6% and the FTSE 100 index gained 2.1%.
The euro held stable near 98.05 U.S. cents and the British pound declined to $1.1203.
Brent crude oil gained $1.18 to $93.55 a barrel and TTF natural gas futures declined 10.3% to 114.0 euros a MWh.
The yield on 10-year German bunds rose to a new 11-year high of 2.43%, French bonds to 2.98%, the UK Gilts to 4.05% and Italian bonds to 4.76%.
Adidas AG declined 9.5% to
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