Market Updates
European Markets Inch Closer to One-month High, Eurozone Jobless Rate Drops to New Record Low
Bridgette Randall
01 Dec, 2022
Frankfurt
European market indexes gained and closed near one-month high after investors digested the latest batch of economic news and dovish comments from the U.S. Federal Reserve Chairman.
Investors welcomed the possibilities of rate hike moderation at the next policy meeting on December 14 and China's softening stance on zero-Covid strategy.
In the region's economic news, investors digested the latest data on German retail sales and the jobless rate in the euro zone.
German Retail Sales Drop
Germany's retail sales in October declined 2.8% from September but still 1.8% ahead from pre-pandemic October 2019, Destatis said Thursday.
Retail sales declined 5.0% in October from a year ago.
October retail sales in nominal terms increased 1.7% from the previous month and increased 6.2% from a year ago.
Eurozone Jobless Rate Drops to New Record Low
The Eurozone jobless rate eased to a new record low of 6.5% in October from 6.6% in September, Eurostat said Thursday.
Markets Overview
The DAX index increased 0.7% to 14,490.30, the CAC-40 index added 0.2% to 6,753.97 and the FTSE 100 index fell 0.2% to 7,558.49.
Natural Gas Prices Trade Volatile
Natural gas prices continue to soar in the euro zone and traded above
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