European stocks mixed; German industrial production disappoints
Investing.com — European stock markets traded in a mixed fashion Tuesday, as investors digested weak German economic data as well as a positive overnight close on Wall Street.
At 03:05 ET (08:05 GMT), the DAX index in Germany traded marginally lower, the CAC 40 in France traded up 0.1% and the FTSE 100 in the U.K. rose 0.3%.
Data released earlier Tuesday showed that German industrial production unexpectedly fell by 0.7% in November on a month-on-month basis, marking the sixth monthly decline in a row.
The German economy, Europe's biggest, was the weakest among its large eurozone peers last year, as high energy costs, shaky global orders and record-high interest rates took their toll.
However, despite this unwelcome news, European equity markets have received a positive handover from Asia, helped by overnight gains on Wall Street.
Sentiment was helped by relatively dovish Fedspeak, with Governor Michelle Bowman calling monetary policy as «sufficiently restrictive» and Atlanta Fed President Raphael Bostic repeating his view that rate cuts are likely this year.
Additionally, the New York Fed's latest Survey of Consumer Expectations showed that U.S. consumers' projection of inflation over the short run fell to the lowest level in nearly three years in December.
The main focus this week will be on Thursday's U.S.CPI, as this could shift expectations over where the Federal Reserve is heading in terms of interest rate movements.
Earlier Tuesday, core inflation in Japan's capital slowed for the second straight month in December, rising 2.1% from a year earlier, after a 2.3% rise in November and matched a low hit in June 2022.
In the corporate sector, Munich Re (ETR:MUVGn) stock rose 0.1% after the German insurance giant
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