EUROPE Stocks trade stronger

European stock markets were trading stronger around afternoon on Tuesday, 13 December 2022, as investors took heart from gains overnight rally on Wall Street, softer than expected US inflation growth, and improvement in France's employment figure. Although, markets gains capped on caution ahead of slew of central bank policy meetings due this week.

Investors are pinning hopes that the Federal Reserve, the European Central Bank and Bank of England all will tone down their hawkish stances to help prevent a potential recession.

At 13:47 GMT, the pan European Stoxx 600 index was up 1.6% to 443.92. The U.K.'s FTSE 100 index added 1% to 7,521.96. France's CAC 40 index rose 1.8% to 6,770.09. Germany's DAX index added 2.1% to 14,612.15. Switzerland's Swiss Market index grew 1.25% to 11,171.80.

 

The US Bureau of Labor Statistics reported on Tuesday that inflation in the US, as measured by the Consumer Price Index (CPI), declined to 7.1% on a yearly basis in November from 7.7% in October. This reading came in below the market forecast of 7.3%. The annual Core CPI, which excludes volatile food and energy prices, declined to 6% from 6.3% in October.

France's national statistics bureau said that in the third quarter, there was a 1.6% improvement in employment with the addition of 430,800 jobs.

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