European Markets React to Economic Reports

As the European stock markets opened on Thursday, a wave of caution swept over investors following the release of key economic reports. The French producer inflation, Spanish consumer inflation, and Swiss GDP figures for the fourth quarter of fiscal 2024 have all contributed to a cautious start.

Market Movements and Currency Trends

At the opening bell, the DAX declined by 0.96%, with Deutsche Telekom experiencing a significant slip of 3.26%. The FTSE 100 wasn't far behind, dropping by 0.11%, as Howden Joinery Group lost 5.37%. Meanwhile, the CAC 40 fell by 0.49%, with Publicis Groupe down by 2.90%. The Euro Stoxx 50 also decreased by 0.97%, with Stellantis slumping by 2.02%.

Currency markets saw little movement, with the euro and the pound remaining flat against the dollar, trading at $1.04758 and $1.26673, respectively, at 8:59 am CET.

Anticipation for Further Economic Insights

Investors are now turning their attention to upcoming reports on consumer confidence in Italy and the euro area, as well as the GDP report from the United States, seeking further clues on the economic outlook.