European markets dip as German inflation drops.

The Stoxx 600, encompassing companies across Europe, ended the day with a provisional 0.08% dip, capping off a week marked by subdued movements for the second consecutive time. Notably, the technology sector saw a robust 1.2% surge, contrasting with a 1.5% decline in the food and beverage sector.

L’Oreal shares took a hit, plummeting by 7.3% following disappointing sales figures, with indications pointing towards a sluggish demand environment in Asia. Conversely, Hermes shares saw a notable uptick of 4.8% driven by an impressive earnings report.

In Germany, inflation experienced a decline in January, dropping to 3.1%, as revealed by fresh data from the Federal Statistical Office on Friday. This development presents a positive indication for Europe’s largest economy.

Across the Asia-Pacific region, Japan’s Nikkei index achieved a significant milestone by reaching its highest point in 34 years on Friday. However, with many markets either fully or partially closed due to the Lunar New Year holiday, trading activity was subdued. The Nikkei 225 surpassed the 37,000 mark for the first time in 34 years, registering a 0.4% increase, while the Topix remained relatively unchanged.

In the meantime, the United States, stock markets experienced gains, spurred by the S&P 500 index crossing the historic 5,000 milestone for the first time during intraday trading.

Sajda Parveen
Sajda Parveen
Sajda Praveen is a market expert. She has over 6 years of experience in the field and she shares her expertise with readers. You can reach out to her at [email protected]
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