(Reuters) – European stocks ended in disarray on Friday as questions about central bank monetary policy and related recession fears remained despite a slowdown in U.S. inflation.
In Paris, the CAC 40 lost 0.20% to 6,504.90 points. In Frankfurt, the Dax advanced 0.19% and in London, the FTSE 100 gained 0.05%.
The pan-European FTSEurofirst 300 index fell 0.04%, the Eurozone EuroStoxx 50 fell 0.17% and the Stoxx 600 gained 0.01%.
Over the week, the CAC 40 gained 0.49% and the Stoxx 600 0.34%.
U.S. consumer spending barely rose in November as inflation eased again, but not enough to deter the U.S. Federal Reserve (Fed) from raising interest rates to higher levels next year .
While the recent inflation numbers are welcome for Fed Chairman Jerome Powell, the US central bank will need “much more evidence” to be sure it is on a sustainable downward path.
Two key inflation reports are due out ahead of the Fed’s next policy meeting, which ends Feb. 1.
IN WALL STREET
The three flagship indices of the New York Stock Exchange also evolve in dispersed order.
At the close in Europe, the Dow Jones index gained 0.24%, or 78.15 points, to 33,105.64 points, the Standard & Poor’s 500 0.19% while the Nasdaq Composite fell 0.25 %.
CHANGES
The dollar fell 0.1640% against a basket of benchmark currencies after two sessions in the red and the euro advanced 0.2542% to 1.0620 dollars.
RATE
Eurozone bond yields posted another weekly jump on Friday after the European Central Bank (ECB) promised further rate hikes and the release of strong US jobs data.
That of ten-year Treasuries gained nearly seven basis points, to 3.7397%.
OIL
The oil market is trending higher after Russia said it may cut crude production in response to the G7 price cap on Russian exports, setting the market on course for a second week of gains .
Brent gained 2.85% to 83.29 dollars a barrel and US light crude (West Texas Intermediate, WTI) 2.56% to 79.47 dollars.
(Written by Kate Entringer, edited by Camille Raynaud)