{"id":31797,"date":"2023-03-02T18:23:22","date_gmt":"2023-03-02T18:23:22","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/03\/02\/major-european-markets-close-on-firm-note\/"},"modified":"2023-03-02T18:23:22","modified_gmt":"2023-03-02T18:23:22","slug":"major-european-markets-close-on-firm-note","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/03\/02\/major-european-markets-close-on-firm-note\/","title":{"rendered":"Major European Markets Close On Firm Note"},"content":{"rendered":"
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The major European markets<\/span> closed higher on Thursday, as data showing a drop in eurozone inflation lifted investor sentiment and helped trim early losses.<\/p>\n

Data showed eurozone inflation eased slightly to 8.5% in February, the slowest since May 2022, and down from 8.6% in the previous month.<\/p>\n

Meanwhile, core inflation that excludes energy, food, alcohol and tobacco, accelerated to 5.6% from 5.3%. Core inflation was expected to remain unchanged at 5.3%.<\/p>\n

Meanwhile, ECB President Christine Lagarde said that rates will have to rise higher and stay higher for some time to combat inflation. <\/p>\n

The pan European Stoxx 600 climbed 0.51%. The U.K.’s FTSE 100 gained 0.37%, Germany’s DAX advanced 0.15%, and France’s CAC surged 0.69%, while Switzerland’s SMI gained nearly 1%.<\/p>\n

Among other markets in Europe, Austria, Denmark, Ireland, Netherlands, Norway and Portugal ended higher. <\/p>\n

Belgium, Czech Republic, Finland, Greece, Iceland, Poland, Russia and Turkiye closed weak. Spain and Sweden ended flat.<\/p>\n

In the UK market, CRH soared more than 8% after reporting a jump in 2022 profit and unveiling share buyback plans.<\/p>\n

Croda International gained about 2.25%, while BP, Coca-Cola, BAE Systems, Diageo and Shell gained 1.5 to 2%.<\/p>\n

Beazley dropped more than 5%. Haleon, Schrodders, Persimmon, HSBC Holdings and Barratt Developments lost 3 to 4%. Prudential, IAG, Hargreaves Lansdown, Barclays, Fresnillo and Lloyds Banking Group also ended notably lower.<\/p>\n

In Paris, Eurofins Scientific surged more than 5.5%. Pernod Ricard, TotalEnergies, Kering, L’Oreal, LVMH, ArcelorMittal, Engie and Hermes International gained 1 to 2.2%.<\/p>\n

STMicroElectronics ended more than 3% down. Unibail Rodamco drifted down by about 1%. Credit Agricole, Michelin and Societe Generale posted moderate losses.<\/p>\n

In the German market, E.ON, Adidas, Beiersdorf, Merck and Symrise gained 1 to 1.6%.<\/p>\n

Covestro tumbled nearly 6%. Deutsche Bank, Zalando, Commerzbank, Infineon Technologies, Siemens Energy and Fresenius lost 0.6 to 1.4%. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n