Would you like to receive notifications on latest updates of the following headlines?

European Stock Markets Record Losses Amid Uk Economic Stall

POSTED ON November 9, 2023 •   GLOBAL NEWS      BY Segun Adewole

European stock markets faced a challenging start on Friday as news of the UK economy stalling in the third quarter reverberated across major indices. London's FTSE 100 index saw a decline of 0.5 percent, settling at 7,418.70 points, with the market also grappling with a profit warning issued by beverage behemoth Diageo.

In the eurozone, Frankfurt's DAX index experienced a 0.3 percent drop, reaching 15,305.07 points, while Paris' CAC 40 lost 0.5 percent, closing at 7,077.81. The downward trend in these key indices mirrored the broader economic concerns stemming from the UK's economic slowdown and corporate warnings, contributing to the cautious sentiment among investors.

The situation was further exacerbated by remarks from Federal Reserve Chief Jerome Powell, who emphasized his readiness to implement additional interest rate hikes in the United States to combat inflation. Powell's commitment to addressing inflationary pressures added to the overall uncertainty in global markets, affecting investor confidence.

The interconnectedness of financial markets was evident as European indices responded to both domestic economic developments and signals from the US central bank. Powell's warning reverberated beyond American borders, amplifying concerns about the potential impact of tighter monetary policies on global economic recovery.

As investors recalibrate their strategies in response to these economic indicators and policy statements, the coming days are likely to witness continued volatility in European markets. The delicate balance between economic growth and inflation control remains a focal point, shaping the trajectory of financial markets in Europe and beyond.

0
READ ALSO
Over 600 Pilgrims Hospitalized in Iraq after Chlorine Leak
BY Abiodun Saheed Omodara August 10, 2025 0

More than 600 pilgrims in Iraq were temporarily hospitalized due to respiratory issues after inhalin...

READ ALSO
Starmer Calls for Ceasefire and Humanitarian Aid as Gaza Situation Deteriorates
BY Abiodun Saheed Omodara August 8, 2025 0

The Prime Minister of the United Kingdom, Keir Starmer, has urged the Israeli government to rethink...

READ ALSO
U.S. Raises Bounty on Maduro to $50 Million amid Drug Trafficking Allegations
BY Abiodun Saheed Omodara August 8, 2025 0

The United States has increased its bounty on Venezuelan President Nicolas Maduro—who is facin...

READ ALSO
Register with Embassies for Emergency Assistance, FG Urges Nigerians Abroad
BY Abiodun Saheed Omodara August 6, 2025 0

The Federal Government has urged Nigerians traveling abroad to register with Nigerian embassies and...

READ ALSO
US Issues Warning to International Students on Visa Compliance
BY Abiodun Saheed Omodara August 4, 2025 0

The United States has issued a warning to international students about the potential consequences of...

READ ALSO
Hamas Offers Red Cross Access to Hostages, Demands Aid for Gaza in Return
BY Abiodun Saheed Omodara August 4, 2025 0

The militant group Hamas announced on Sunday that it is willing to permit the Red Cross to deliver f...

READ ALSO
Nigeria Immigration Service Urges Compliance with U.S. Visa Regulations
BY Abiodun Saheed Omodara August 2, 2025 0

The Nigeria Immigration Service has issued a notice urging Nigerians to utilize their U.S. visas app...

READ ALSO
Global Hunger Declines to 8.2% in 2024, Yet Africa and Western Asia See Rising Rates
BY Abiodun Saheed Omodara July 30, 2025 0

The recent report on the State of Food Security and Nutrition in the World reveals that around 8.2 p...

OUR CHANNELS:

Mali Detains Soldiers in Crackdown on Alleged Coup Attempt Against Junta
BY Abiodun Saheed Omodara August 12, 2025 0

Mali has detained numerous soldiers suspected of attempting to overthrow the junta that assumed powe...


Davido Pays Tribute to Ifeanyi During Wedding Ceremony
BY Abiodun Saheed Omodara August 12, 2025 0

Afrobeats superstar David Adeleke, better known as Davido, wore custom cufflinks featuring an image...


Raye Faces Disciplinary Action, Not Political Punishment- NYSC Clarifies
BY Abiodun Saheed Omodara August 12, 2025 0

The National Youth Service Corps (NYSC) has rejected allegations that Corps Member Ushie Rita Uguama...


E-Hailing Operators Face Mandatory Vehicle Audits Amid Safety Concerns
BY Abiodun Saheed Omodara August 11, 2025 0

The Lagos State Government has mandated a thorough inspection of all vehicles used by licensed e-hai...


FRSC Intensifies Crackdown on Motorcyclists Riding Without Helmets on Highways
BY Abiodun Saheed Omodara August 11, 2025 0

The Federal Road Safety Corps (FRSC) in Ondo State has emphasized its determination to apprehend any...


Over 600 Pilgrims Hospitalized in Iraq after Chlorine Leak
BY Abiodun Saheed Omodara August 12, 2025 0

More than 600 pilgrims in Iraq were temporarily hospitalized due to respiratory issues after inhalin...


Youth Flee as EFCC Conducts Dramatic Raid at Obasanjo Hotel
BY Abiodun Saheed Omodara August 11, 2025 0

Agents from the Economic and Financial Crimes Commission (EFCC) reportedly raided the Green Legacy H...


Abia Football Fest To Hunt Future Champions
BY Abiodun Saheed Omodara August 11, 2025 0

All is set for the inaugural edition of the Abia State Football Fest (ASF), a grassroots talent-hunt...


2027: Ambode Denies Move to ADC, Declares Support For Tinubu, APC
BY Abiodun Saheed Omodara August 12, 2025 0

Ahead of the 2027 general elections, the former Governor of Lagos State, Akinwunmi Ambode, on Saturd...


Tinubu Conferred Chieftaincy Title In Lagos
BY Abiodun Saheed Omodara August 11, 2025 0

Nigeria’s First Lady, Senator Oluremi Tinubu, has reiterated the Federal Government’s co...


More Articles

Load more...

Menu