European stocks close out best month since January as inflation eases
Publishing timestamp: 2023-11-30 12:17:22
Summary
European markets closed higher in November, with the Stoxx 600 index up 0.5% and marking its best performance since January. U.S. stocks also saw a turnaround in November and are heading for their best month of the year. Market sentiment has been boosted by expectations of interest rate cuts in major economies next year. Euro zone inflation came in lower than expected, easing concerns about rising prices. Bonds have rallied in November, and oil and gas stocks are up as investors await announcements from the OPEC meeting. German Chancellor Olaf Scholz discussed the situation in Ukraine with President Volodymyr Zelenskyy. The Dow Jones Industrial Average opened higher, and New York Federal Reserve President John Williams expects interest rates to remain at a "restrictive" level. The euro traded lower against the British pound and U.S. dollar after euro zone inflation data. The number of people out of work in Germany increased in November, and French inflation rose by 3.4% on an annual basis. German retail sales rose higher than expected in October. Technical analysts are watching for a "golden cross" pattern in three stocks, which could indicate a potential rally. Autonomous vehicles and power transportation systems are expected to be the industry's largest growth segments. Investors are considering whether to stay invested in cash or start flock
Sentiment: NEUTRAL
Tickers: .SPX, .DJI, .IXIC, .STOXX, .FCHI, .GDAXI, .FTMIB, .FTSE,
Keywords: business news, breaking news: europe, economic events, stoxx 600, prices,