European stocks log worst quarter in a year with a drop of 2.9%
European stocks were higher Friday, but optimism in recent sessions rounded off a weak month and the worst quarter for a year. The pan-European Stoxx 600 provisionally closed up 0.5% on the prior session, with…
From the American News Group archive. This article dates from Oct 1, 2023 and is preserved as first published.
European stocks were higher Friday, but optimism in recent sessions rounded off a weak month and the worst quarter for a year.
The pan-European Stoxx 600 provisionally closed up 0.5% on the prior session, with most sectors finishing in positive territory as tech and household goods led the pack.
The index ended Wednesday at a six-month low and has declined 2.1% this month, according to LSEG data, following a 2.8% fall in August. Despite making gains in July, that still takes the benchmark Stoxx to a 2.9% loss for the quarter, its worst performance for a year.
Investors on Friday analyzed euro zone inflation, which fell to its lowest level since October 2021. It tumbled to 4.3% for the month of September, according to flash data.
The announcement is in line with recent country-specific data, with preliminary inflation figures from Germany showing inflation slowed more than expected Thursday. Harmonized data for Europe’s biggest economy showed a 4.3% increase in consumer prices since September 2022 — the lowest level since Russia’s full-scale invasion of Ukraine.
Asia-Pacific markets largely climbed in the final trading day of the week, with Hong Kong’s Hang Seng index leading gains in the region and rising over 2%.
Investors on Friday analyzed euro zone inflation, which fell to its lowest level since October 2021.
U.S. stocks rose early Friday as investors prepared to end a difficult September.
