European Stocks Close Broadly Higher Amid Rising Inflation

Last Updated: Thursday, January 20, 2022 12:49 PM | MT Newswires

European bourses closed largely higher on Thursday as investors shrugged off inflation concerns and focused on corporate earnings.

Germany's DAX closed up 0.7% and the Stoxx Europe 600 was up 0.5%. France's CAC and the Swiss Market Index were both 0.3% higher, while the FTSE 100 in the UK was fractionally lower.

The euro area's final annual inflation rate was confirmed at 5% in December, higher than the 4.9% rate in November, and -0.3% a year earlier, according Eurostat. On a monthly basis, inflation in the eurozone was 0.5%, in line with the flash estimate.

Germany's index of producer prices for industrial products grew 5% on a monthly basis in December, faster than the 0.8% monthly growth in November, according to data published by the national statistical agency Destatis.

The disproportion between supply and demand in the UK housing market will continue to raise prices strongly across all regions in the country, Bloomberg News reported, citing the Royal Institution of Chartered Surveyors, or RICS.

On the corporate front, Zur Rose Group (ROSE.SW) climbed over 5% after its revenue for the full-year 2021 jumped 16.8% to 1.73 billion Swiss francs ($1.89 billion) as the total number of active customers climbed 18% to 12.4 million.

Meanwhile, Soitec (SOI.PA) slumped over 18% after it said Paul Boudre is stepping down as chief executive officer of the company and will be succeeded by Atos (ATO.PA) executive Pierre Barnabe.

Share this article:

You May Also Like

Related Articles

Fate Therapeutics Inc (FATE) Stock: What Does the Chart Say Tuesday?

Where Will Rapt Therapeutics Inc (RAPT) Stock Go Next After It Is Up 34.21% in a Week?

Denali Therapeutics Inc (DNLI) Stock: What Does the Chart Say Tuesday?

How Will the Market React to ADMA Biologics Inc (ADMA) Stock Getting a Bullish Rating

ACADIA Pharmaceuticals Inc. (ACAD) Stock: What Does the Chart Say Tuesday?