Despite the Inflation and GDP, European Markets End Higher


European markets closed higher Monday as investors digested two big economic data releases out of the euro zone, reports CNBC.

Positive recession

By closing, the pan-European Stoxx 600 had up 0.4%, with retail stocks down 0.5% and travel and leisure stocks up 1.5%. Stocks ended the month with a gain of about 6%.

The positive session followed a choppy week’s conclusion as investors processed the ECB’s decision to increase interest rates by 75 basis points.

Consumer price inflation

Consumer price inflation soared to a new high in October, and third-quarter growth slowed significantly, according to euro zone GDP and inflation data released on Monday, suggesting that the 19-member union may face more hardship in the future.

Even though China’s manufacturing activity fell short of estimates on Monday, shares in the Asia-Pacific region were generally higher overnight. While stocks on Wall Street fell on Monday, the major averages were on the verge of ending a two-month losing skid. Markets were anticipating a crucial interest rate decision at the US Federal Reserve meeting later this week.

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Source: CNBC


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