European stocks close mixed; eurozone inflation, corporate earnings in focus
European stock markets closed in a mixed fashion Tuesday, as investors digested key eurozone inflation data as well as more corporate earnings.
At 11:15 ET (16:15 GMT), the DAX index in Germany and the CAC 40 in France gained 0.6%, while the FTSE 100 in the U.K. fell 0.2%. Eurozone consumer inflation edges higher
The eurozone consumer inflation index for December came in largely as expected, rising 2.4% in December on an annual basis, gaining from 2.2% in November.
This is the last piece of inflation data before the European Central Bank's next meeting on Jan. 30, with investors currently looking for the ECB to ease interest rates by around 100 basis points in the first half of 2025. Next lifts full-year guidance
In corporate news, Next PLC (LON:NXT ) stock rose almost 4% after the UK clothing retailer raised its full-year profit guidance, expecting to generate a £1 billion profit for the first time this year, seeing unexpectedly strong overseas sales over the festive period.
Volvo (OTC:VLVLY ) Car (ST:VOLCARb ) stock soared 9% despite posting a 3% drop in overall sales in December, as the number of electrified cars, including fully electric and plug-in hybrid vehicles, rose by 20% year on year in December.
French food caterer Sodexo (EPA:EXHO ) stock fell over 7.5% after the French food caterer reported a near 5% rise in its first-quarter organic revenue, missing market expectations, as robust growth in India, Brazil and Australia was offset by decreased activity in Continental Europe. Crude slips lower
Oil prices rose Tuesday, continuing last week's optimism of more policy support to revive economic growth in China, the world’s largest crude importer.
By 11:15 ET, the US crude futures (WTI) climbed over 1% to $74.3 a barrel, while the Brent also rose over 1% to $77.07 a barrel.
Both benchmarks slid on Monday, after rising for five days in a row last week to settle at their highest levels since October on Friday.
Source: Investing.com
