Major European Markets Close On Mixed Note

(RTTNews) - The major European markets ended on a mixed note on Wednesday, while most of the other markets in the region closed higher.

Data showing a drop in UK consumer price inflation, and hopes that global central banks, including the Federal Reserve, will slow the pace of interest rate hikes continued to support the mood, while uncertainty about growth and worries about rising Covid cases in China weighed on sentiment.

The pan European Stoxx climbed 0.23%. France's CAC 40 edged up 0.09%, the U.K.'s FTSE 100 ended 0.26% down, while Germany's DAX edged down 0.03%. Switzerland's SMI dropped 0.31%.

Among other markets in Europe, Austria, Czech Republic, Denmark, Finland, Greece, Iceland, Norway, Poland, Spain, Sweden and Turkiye closed higher.

Belgium, Ireland and Portugal ended weak, while Netherlands and Russia settled flat.

In the UK market, Glencore, Ocado Group, Antofagasta, Burberry Group, Experian, IAG, Anglo American Plc, Persimmon, IHG and Sage Group gained 2 to 4.3%.

BT Group drifted down more than 3%. Haleon, Diageo, Reckitt Benckiser, Coca-Cola HBC, Segro, GSK, British American Tobacco, Unilever, Whitbread and Vodafone Group lost 1.6 to 2.8%.

In Paris, Capgemini gained about 3%. Alstom, STMicroElectronics, Airbus Group, Saint Gobain, Teleperformance and Safran advanced 1.5 to 2.3%.

Pernod Ricard declined 2.8%. Kering ended nearly 2% down, while Renault ended lower by 1.7%.

In the German market, Covestro gained nearly 2.5%. Deutsche Post, SAP, MTU Aero Engines, Deutsche Boerse and Munich RE gained 1 to 2%.

Continental ended more than 3% down after the car manufacturer cut its adjusted free cash flow expectations for 2022, citing further customer payment delays.

Vonovia, Merck, Deutsche Wohnen, Puma, HelloFresh, Linde, Deutsche Telekom, Bayer and RWE lost 1 to 2.3%.

Dutch semiconductor supplier ASM International NV soared nearly 10% after its fourth-quarter revenue came in ahead of its guidance.

In economic releases, data from the Office for National Statistics showed the consumer price inflation in the UK slowed to 10.5% in December, as expected, from 10.7% in November.

On a monthly basis, consumer prices gained 0.4%, the same pace of growth as seen in November, and in line with expectations.

UK house prices registered a slower annual growth in November, figures from the Office for National Statistics showed. House prices grew 10.3% year-on-year, slower than the 12.4% increase in October.

Final data from Eurostat revealed that Eurozone core inflation accelerated in December, as estimated, while overall inflation slowed to a four-month low on energy prices. Core inflation that excludes energy, food, alcohol and tobacco, advanced to 5.2% from 5% in November.

Data from the statistical office Eurostat showed Eurozone construction output contracted for the first time in three months in November, as a rise in civil engineering activity was offset by a downturn in the building sector.

Construction output fell 0.8% month-over-month in November, reversing a revised 1% rise in October. On a yearly basis, the growth in construction output eased to 1.3% in November from 1.9% in the prior month. The rate for August was revised down from 2.2%.

New car sales in the European Union rose 12.8% year-on-year following a 16.3% growth in November, European Automobile Manufacturers' Association, or ACEA, said.

Among the four major markets, Germany and Italy had an extremely strong end to 2022, posting double-digit increases of 38.1% and 21%, respectively.