European Markets Finished Mixed On Tuesday
(RTTNews) - The major European markets finished mostly higher on Tuesday, although they trended downward throughout the day and ended on opposite sides of the unchanged line.
Early in the session, European stocks traded near record highs thanks to falling oil prices as hopes for a resolution to the Middle East conflict helped ease inflation concerns.
But the markets turned lower after data showed that U.S. consumer prices increased more than expected in October, raising concerns about the outlook for interest rates.
The FTSE in London slipped under water at the close, finishing lower by 31.28 points or 0.29 percent to end at 10,751.59. Germany's DAX added 80.26 points or 0.31 percent to close at 26,347.45 and the CAC 40 in France gained 45.30 points or 0.55 percent to finish at 8,278.59. The SMI in Switzerland climbed 91.79 points or 0.61 percent to finish at 15,037.94.
In economic news, France's Q3 unemployment fell to 8.2 percent from 8.3 percent in the second quarter versus expectations for an increase to 8.4 percent. Last year, the jobless rate was 7.8 percent.
Norway's consumer price inflation accelerated to its highest level in seven months, although less than was expected. Inflation climbed to 3.6 percent in October versus expectations for 3.7 percent.
Hungary's consumer price inflation increased for the third straight month in October to the highest level in six months, hitting 2.0 percent on year after rising 1.6 percent a month earlier.
Sweden's industrial output declined for the first time in three months in September, slipping 3.7 percent yearly while reversing a 5.7 percent gain in August. This was the steepest fall since August 2024.
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