Europe closes mixed following data releases

Wednesday, 18. December 2019 17:30

Stocks on European markets traded mixed at the closing bell on Wednesday as data for Eurozone and Germany was released during the session. According to Eurostat, inflation in the euro area grew to 1% on an annual basis in November while construction output fell 1% in October compared to a month prior. Nevertheless, positive news came from the German Institute for Economic Research which revealed that the business climate in the country increased by 1.2 index points, beating the estimates.

Meanwhile, after the path was cleared for the United Kingdom's divorce from the European Union following the comfortable election victory for UK Prime Minister Boris Johnson' Tories, investors switch their focus to upcoming negotiations on the potential trade deal between the EU and UK. European Union's Chief Brexit Negotiator Michel Barnier asserted that London needs to uphold the bloc's regulations in order to reach an agreement while European Commission President Ursula von der Leyen described divorce's timetable as "extremely challenging."

The DAX ended the session losing 0.49% with Continental AG dropping nearly 2%, while the CAC 40 slid 0.15% at the closing bell driven by Accor's losses of 2%. The FTSE 100 gained 0.21% at the same time as Hikma Pharmaceuticals led the way, adding over 4%.

The euro traded with losses against the greenback, slipping 0.23% to go for 1.11208 at 5:30 pm CET.

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