European stock markets closed down on Wednesday, the 8th, in a session marked by the publication of the Gross Domestic Product (GDP) for the third quarter of the euro zone, by statements by a director of the Central and European Bank (ECB) and awaiting a position of the world’s main central banks on interest rates. Still, industrial production data in Germany, expectations of consumers in the euro zone for inflation in the bloc and possible easing in China also guided the business of this session.
The CAC 40, in Paris, fell 0.41%, to 6,660.59 points, and the FTSE MIB, in Milan, closed down 0.10%, to 24,241.35 points. In Madrid, the Ibex 35 index fell 0.50% to 8,290.50 points. The DAX index, in Frankfurt, followed the movement and closed down 0.57%, at 14,261.19 points. Finally, on the Lisbon Stock Exchange, the PSI 20 dropped 0.91% to 5799.67 points. Quotes are preliminary.
In London, the FTSE 100, fell 0.43% to 7,489.19 points, despite being dragged down by Shell (down more than 1.5%), by Harbor (down more than 2.5%) and by BP (which ceded more than 2%) after oil falls. In Lisbon, the negative energy highlight was Galp Energia, with a drop of more than 3.5%
Today, the Eurostat agency indicated a growth in the euro zone’s GDP in the third quarter of 2022 compared to the second, in the last reading of the data. However, Oxford Economics analyzes that the forecast is still for contraction in the fourth quarter, “since high inflation and tight financial conditions dampen consumption and weigh on investment”.
Earlier, an ECB official, Fabio Panetta, defended the involvement of central banks in the regularization and stabilization of crypto assets, highlighting the need to protect the conventional financial system from crypto risks.
Another driver for today’s trading was the drop in industrial production in Germany, according to the official reading. The fall, however, was smaller than expected by the market.
On the radar of investors, there was also the news that China will again ease part of the mobility restriction measures, according to a statement from the National Health Commission (NHC, its acronym in English). However, weak export data from the country kept European markets at a “disadvantage”, according to an analysis by CMC Markets.
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