European stocks close higher; DAX up 1% as German inflation eases
Publishing timestamp: 2023-11-29 11:40:20
Summary
European stocks closed higher as regional markets regained positive momentum and investors assessed comments from U.S. Federal Reserve board members. Germany's blue chip DAX index maintained gains, and German inflation on an EU-harmonized basis slowed to 2.3% in November. Wall Street stocks traded near the flat line, but major averages are still on track for a sizeable jump in November. German DAX reached its highest level since early August. Gross domestic product in the U.S. grew at a stronger than expected pace in the third quarter. Inflation fell in Spain, and the sterling traded higher against the U.S. dollar. Investors are expecting a Federal Reserve rate cut in the first half of 2024. Citi is bullish on a biotech stock, and AllianceBernstein has named overweight-rated stocks in the defense sector. European markets are heading for a mixed open.
Sentiment: NEUTRAL
Tickers: .DXY, .FTSE, .FTMIB, .GDAXI, .FCHI, GBP=, .STOXX, EUR=,
Keywords: dxy us dollar currency index, gbp/usd, business news, stoxx 600, prices, eur/usd, breaking news: europe, united states,
Source: https://www.cnbc.com/2023/11/29/european-markets-live-updates-stocks-news-data-and-earnings.html