EUROPE: Market trades lower

European stock markets were lower on Thursday, 08 December 2022, as risk sentiments remained downbeat amid growing fears of an impending recession, U.S. rate hike woes and ahead of a slew of interest rate decisions from major central banks.

At 11:43 GMT, the pan European Stoxx 600 index was down 0.3% to 434.50. The U.K.'s FTSE 100 index fell 0.15% to 7,477.87. France's CAC 40 index shed 0.12% to 6,652.75. Germany's DAX index dropped 0.36% to 14,209.74. Switzerland's Swiss Market index dropped 0.12% to 10,997.09.

Cautious traders are staying on the sidelines ahead of a slew of central bank rate decisions including from the Fed and the Bank of England next week.

As recession worries mount, investors also awaiting a speech from European Central Bank President Christine Lagarde at two different events for directional cues.

Back to home, Swiss drug maker Novartis AG edged up slightly after announcing that its investigational oral monotherapy iptacopan showed positive outcomes in patients with rare blood disorder.

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