European stock markets are demonstrating multidirectional fluctuations in the course of trading on Friday, traders are assessing the next portion of statistical data.
The composite index of the region’s largest companies Stoxx Europe 600 had gained 0.13% to 439.90 points by 10:20 a.m. Ksk.
Germany’s DAX stock index declined during trading by 0.04%, Spain’s IBEX 35 – by 0.07%. At the same time British FTSE 100 added 0.37%, French CAC 40 gained 0.06% and Italian FTSE MIB gained 0.2%.
Germany’s retail sales rose 1.1% in November compared to the previous month, according to data from the country’s Federal Statistics Office (Destatis). Analysts polled by Trading Economics expected retail sales in the month before last to rise by 1%. The figure fell 2.8% in October, as previously reported.
Germany’s factory orders fell 5.3% in November compared with the previous month, the German Economy Ministry said. The index declined as much as possible since October 2021. Analysts, according to Trading Economics, on average expected a decrease of the index by 0.5%.
Consumer spending in France in November 2022 increased by 0.5% compared with the previous month, according to data from the National Statistics Office Insee. Analysts polled by Bloomberg expected a more robust rise of 1.1%. The consensus forecast of experts interrogated by Trading Economics provided growth of the index by 1%.
Market participants are waiting for the publication of the preliminary data on changes in consumer prices in the euro area in December, which will be made public at 12:00 KSC. Also, at that time, the European Commission will publish a composite index of confidence in the euro area economy for December.
Stellantis NV shares are down 1.2%. The European automaker must work to cut costs around the world so that it doesn’t raise the price of electric cars, keeping them “affordable” for the middle class, Chief Executive Officer Carlos Tavares said. Among the cost-cutting measures, he cited reducing the number of the company’s factories.
Norwegian hydrogen producer NEL ASA is leading the growth among the components of the Stoxx Europe 600 index, rising 6.3%. Also steadily rise in price papers of Swedish manufacturer of electrical appliances Electrolux AB (+5.2%) and the owner of the second largest in Europe clothing chain Hennes & Mauritz AB (+5%).
The leaders in the fall are the securities of Swedish media and entertainment company Viaplay Group AB, which are cheapening by 5.3%.
