EUROPE Markets trade stronger

29 Nov 2022 , 06:12 PM

European stock markets were higher on Tuesday, 29 November 2022, as risk sentiments boosted up on better than expected Spanish and German inflation numbers along with the China lifted of the ban on equity refinancing for listed property firms, and speculation that Chinas nationwide demonstrations may hasten a shift away from Covid Zero policies. At 12:10 GMT, the pan European Stoxx 600 index added 0.2% to 438.81. The U.K.s FTSE 100 index added 0.8% to 7,533.88. Frances CAC 40 index rose 0.3% to 6,684.94. Germanys DAX index gained 0.2% to 14,410.39. Switzerlands Swiss Market index declined 0.2% to 11,142.98. Growing public anger towards the Chinas strict COVID-linked restrictions, and have prompted speculation that the Chinese government is considering scaling back its anti-COVID policies. ECONOMIC NEWS: Spains consumer prices in the 12 months to November rose 6.8%, a slower pace than the previous 7.3% figure marked in October, preliminary data from the National Statistics Institute (INE) showed on Tuesday. Core inflation, which strips out volatile fresh food and energy prices, was 6.3% year-on-year, slightly higher than the 6.2% recorded in October, the INE data showed. Separately data showed that German inflation dipped in five states in November. In North Rhine-Westphalia, Germanys most populous state, annual inflation slowed this month to 10.4% from 11.0% in October. Inflation also eased slightly in Baden-Wuerttemberg, Bavaria, Brandenburg and Hesse.Powered by Capital Market – Live News