European markets close lower; German inflation accelerated in February
Publishing timestamp: 2023-03-01 11:53:27
Summary
European markets closed lower Wednesday after data showed an increase in German harmonized inflation in February. Mining stocks powered ahead, while utilities dropped. Economic data from France, Spain, Italy, and Germany showed inflation rising and manufacturing output declining. Global markets got a boost from China's National Bureau of Statistics. U.S. equities fell as traders struggled to recover their footing following a losing month and bond yields continued their climb. Euronext dropped its 5.5 billion euro offer for investment platform Allfunds. Analysts discussed the potential risks to stock markets and named several stocks to play the emerging AI space. UBS Financial Services said the economy is in late-cycle and tighter policy creates downside risks for markets. Morgan Stanley's Mike Wilson and others gave advice on how to invest in the turbulent market.
Sentiment: NEUTRAL
Tickers: ANTO-GB, ENXB-FF, NBS-GB, .DJI, 0MV5-GB, .GDAXI, POBA-GB, .STOXX, ALLFG-NL, AAL-GB, AML-GB, .FTSE, .FCHI, .FTMIB, .SPX,
Keywords: business news, united states, economic events, stoxx 600, nationwide building society, antofagasta plc, france, euronext nv, anglo american plc, spain, nationwide building prf, allfunds group plc, breaking news: europe,
Source: https://www.cnbc.com/2023/03/01/european-markets-live-updates-stocks-news-data-and-earnings.html