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European Shares Mixed As Growth Worries Weigh
(RTTNews) - European shares traded mixed on Wednesday as investors awaited U.S. consumer price and producer price inflation data this week for additional clues on the Fed's rate trajectory.
Growth worries weighed after European Central Bank Vice President Luis de Guindos said the euro zone is facing weak growth and a possible recession.
De Guindos said that economic weakness was broad-based, with construction and manufacturing hit particularly hard and services likely to follow in the coming months.
French industrial output rebounded in November, offering some bright news.
Data released earlier today showed French industrial production rose 0.5 percent from the month before in November.
The pan European STOXX 600 was marginally lower at 477.25 after closing 0.2 percent lower on Tuesday.
The German DAX edged up 0.2 percent and France's CAC 40 gained 0.3 percent while the U.K.'s FTSE 100 traded with a negative bias.
Dutch chip-making equipment manufacturer ASML rose about 1 percent after TSMC, the world's largest contract chipmaker, posted Q4 revenue that beat expectations.
J Sainsbury shares slumped 5 percent. The British supermarket chain revealed a strong Christmas sales performance for groceries but falls in non-food categories.
Baker and food-to-go company Greggs soared more than 7 percent after reporting strong year-end sales.
Housebuilder rallied 3.6 percent after decent fourth-quarter results.
Hunting climbed 3.3 percent. The precision engineering group confirmed its 2023 financial performance aligns with previous guidance and market expectations.
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