A negative trend is observed in European stock markets.
After the opening, the Stoxx Europe 600 indicator index decreased by 0.7 percent to 503.2 points, the DAX 40 index in Germany decreased by 0.4 percent to 19,159 points, and the FTSE 100 index in England decreased by 0.3 percent to 8,044 points.
In Italy, the MIB 30 index is traded at 34,272 points with a 0.3 percent loss, in France the CAC 40 index is traded at 7,261 points, with a 0.7 percent decrease, and in Spain the IBEX 35 index is traded at 11,514 points, with a 0.1 percent decrease.
Global markets are following a mixed course following US Federal Reserve (Fed) Chairman Jerome Powell’s statements that the economy does not give signals that would require a rush in interest rate cuts.
While a sell-off trend stood out in the European stock markets on the last trading day of the week, the 3rd quarter growth in the UK was parallel to expectations on an annual basis.
According to the data announced in the region, the UK grew by 0.1 percent on a quarterly basis in the third quarter of the year, below expectations, while it grew by 1 percent on an annual basis, in line with expectations. Industrial production for September did not meet expectations, with a monthly decrease of 0.5 percent and an annual decrease of 1.8 percent.
On the other hand, in the meeting minutes of the European Central Bank (ECB) Monetary Policy Committee published yesterday, it was revealed that members see little risk of interest rate cuts, considering that interest rates will remain in the restrictive region and continue to support the disinflationary process.
In the minutes, it was stated that the members saw the interest rate cut in October as a protection against risks, and said, “Incoming data made it difficult for market participants to estimate the speed, scope and pricing of both the decline in inflation and the easing cycle in monetary policy.” information was given.
The minutes stated that the ECB wanted to eliminate the danger of very low inflation and very weak growth with the interest rate cut in October, and that taking action now would provide protection against downside risks and support a soft landing in the economy.
Analysts said that retail sales, New York Fed manufacturing index, industrial production and capacity utilization rate will be followed in the USA today.
