European Stocks Close Mixed
European stocks closed mixed on Wednesday amid a series of corporate updates, while markets continued to gauge the outlook of euro rates contrasting outlooks for the Fed and ECB.
The Eurozone's STOXX 50 inched 0.1% higher to 5,693 and the broader STOXX 600 added 0.1% to 576. ECB President Lagarde noted that the bloc's inflation is expected to remain near the target, while Executive Board Member Lane warned on upside risks to inflation.
Conversely, pessimistic labor data from the US consolidated bets of a Fed cut next week. ASML jumped 2.6% after it was upgraded by Bank of America and JPMorgan, while Inditex surged 9% on strong earnings and the confirmation of its full-year outlook.
Also, Stellantis soared 7.7% after being upgraded by UBS, and Airbus added 1.5% as it maintained its financial targets despite revising its delivery schedule. On the other hand, financials were sharply down with Allianz, ING, and Santander falling between 2% and 1.3%.
Source: Tradingeconomics.com
