Europe opens muted amid CPI data, Ukraine tensions

Wednesday, 16. November 2022 09:01

Major stock markets across the European continent kicked off Wednesday's session mostly unchanged as investors observed the latest developments in the east, where an unidentified rocket killed two people yesterday in a Polish village near the Ukraine border.

The latest batch of economic data revealed that British inflation soared to a new record high of 11.1% last month, surpassing market estimates and applying new pressures on the Bank of England, which is expected to continue raising interest rates despite recession concerns. October readings for Italy are scheduled for release shortly after the opening bell.

London's FTSE 100 traded 0.16% higher at the open. The DAX stood flat in Frankfurt at launch, trading lower after being pulled by Mercedes Benz whoreportedly slashed EV prices in China. The French CAC 40 inched up by 0.15%. The euro gained 0.50% against the greenback to sell for 1.04062 at 8:57 am CET, while the pound rose 0.29% to $1.18960.

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Author:
Baha Breaking News (BBN) / ND