European main indices are showing a decline in trading on Friday. Thus, the FTSE 100 index dropped by 0.27%, the DAX index fell by 0.86%, the CAC 40 index declined by 0.33%. The FTSE MIB index dropped by 0.3%.
European main indices are showing a decline in trading on Friday. Thus, the FTSE 100 index dropped by 0.27%, the DAX index fell by 0.86%, the CAC 40 index declined by 0.33%. The FTSE MIB index dropped by 0.3%, and the IBEX 35 index fell by 0.1%. The STOXX Europe 600 index plummeted by 0.5%.
The increase in European countries' inflation occurred this month triggered the fall in European indices. Inflation in annual terms rose to 4.1% annually from the previous month's level of 3.4%. At the same time, according to analysts' forecasts, the growth of inflation was expected to reach only 3.7%.
Consumer prices rose to 4.1% this month. This is a record reading for the last 13 years (by comparison, last month it was 3.4%). At the same time, according to analysts' forecasts, the prices were expected to grow by 3.7%.
According to the ECB report, the PEPP is scheduled to be tapered as early as March next year.
Investors are assessing data on the GDP of European states. According to primary data, GDP growth in the previous quarter was 3.7% in annual terms and 2.2% in quarterly terms. At the same time, according to experts' forecasts, growth in annual and quarterly terms should have reached 3.5% and 2%, respectively.
According to preliminary information, economic growth in France in the previous quarter was 3% compared to the second quarter, which exceeded the expectations of 2.1%. At the same time, consumer spending in September decreased by 0.2% compared to the August reading, Although, according to experts' forecasts, it should have grown by 0.3%. Inflation in the country rose to 3.2% from 2.7% in the previous month, which also did not match analysts' forecasts estimated at 3.1%.
French bank BNP Paribas SA gained 0.6% thanks to a 32% rise in profits and a 5% rise in revenues, which outperformed analysts' expectations. Air France-KLM gained 5.7% on 81% revenue growth.
In Germany, the economic growth in the third quarter was slightly lower than in France and amounted, according to preliminary information, to 1.8% - the level of the second quarter. Inflation rose by 2.5% annually. At the same time, according to analysts' expectations, the growth was 2.2% quarterly and 2.5% annually.
The Signify N.V. stock fell by 5% due to a decline in profits of the company, associated with supply disruptions. At the same time, Daimler AG securities grew by 1.6% due to a 20.5% increase in profits.
Italian Eni SpA's 83% increase in revenues boosted its stock price by 1%. Securities of the Swedish company Volvo Cars rose by 10%. Thanks to good reports, the value of the securities of Swiss Re AG also increased by 3%.
