Market Updates

European Markets Jump 3% On Peak Inflation Hopes

Bridgette Randall
10 Nov, 2022
Frankfurt

    European markets traded sideways before the release of the U.S. inflation data but the indexes perked up sharply following the advances in New York. 

    Italy's industrial production fell 1.8% on a monthly basis in September, reversing 2.3% rise in August, the statistical office Istat reported today. 

    Industrial production declined 0.5% from a year ago in September after rising 2.9% in August.  

    Norway's inflation accelerated in October to 7.5% from 6.9% in September, Statistics Norway said Thursday. 

    The inflation surged to the highest annual rate since in October 1987, when prices rose 7.6%.   

    The DAX index surged 3.5% to 14,146.09, the CAC-40 index jumped 1.9% to 6,556.83 and the FTSE 100 index advanced 1.1% to 7,375.34. 

    The yield on 10-year German Bunds inched lower to 2.00%, French bonds declined to 2.49%, UK Gilts were nearly unchanged at 3.28% and Italian bonds inched higher to 4.00%. 

    Brent crude oil increased 53 cents to $93.23 a barrel and TTF natural gas rose 0.3% to 113.45 euros a MWh. 

     

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