STOCK EXCHANGE: A decline in Europe – producer prices in Germany rose much more than expected

Stock markets in Europe were down on Friday as investors worried about future interest rate hikes, inflationary pressures and the energy crisis.

The broad STOXX Europe 600 index was down 0.2 percent. Real estate companies had the biggest difficulties, with a 1.3 percent decrease.

German producer prices rose in July much more than expected. There was a 5.3 percent increase from the previous month, when the forecasts called for a 0.7 percent increase. In June, the corresponding figure was 0.6 percent.

Compared to a year ago, producer prices rose by 37.2 percent, while forecasts expected a 31.8 percent increase. In June, the corresponding figure was 32.7 percent.

In Frankfurt, the DAX index was down 0.4 percent.

The final July inflation figures for the euro area were published yesterday. In July, consumer prices rose by 8.9 percent year-on-year.

In Great Britain, retail sales increased by 0.3 percent in July, while economists expected a contraction of 0.2 percent.

The London Stock Exchange’s FTSE 100 index was down 0.1 percent.

In Paris, the CAC 40 index was down 0.2 percent. French food company Sodexo was down 1.6 percent after Jefferies lowered his recommendation for the company from buy to hold,

Futures anticipate a decline of about half a percent for the United States.

In Asia, the stock markets were uneven.

By Editor

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