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European stock markets end day mixed as investors focus on geopolitical developments

Germany’s DAX 30 index down 0.45% to 13,964 points

European stock markets closed the first trading day of the week with mixed figures as investors focused on the Russia-Ukraine war and geopolitical developments.

The European Commission on Monday lowered its 2023 growth forecast for the euro area to 2.3% amid Russia’s continued war on Ukraine.

“Real GDP growth in both the EU and the euro area is now expected at 2.7% in 2022 and 2.3% in 2023, down from 4.0% and 2.8% (2.7% in the euro area),respectively, in the Winter 2022 interim forecast,” said the commission’s latest report.

The euro area’s goods trade balance saw a deficit of €16.4 billion ($17 billion) in March due to a further rise in imported energy bills, the EU’s statistical office Eurostat reported.

Separately, the US and EU agreed to cooperate closely to counter supply disruptions in food and industrial products caused by the Russia-Ukraine War.

With these developments, Benchmark Stoxx Europe 600 index rose 0.04% to 433.67 points, while the UK’s FTSE 100 index was up 0.63% to 7,464.8 points.

Germany’s DAX 30 index lost 0.45% to 13,964 points and France’s CAC 40 index dropped 0.23% to 6,347.77 points.

Italy’s FTSE MIB 30 index declined 0.06% to 24,033.05 points.

Euro/dollar parity was traded at the 1.042 level, gaining 0.06% as of 19.15 local time.

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