Euro markets closed higher on Friday, with the French CAC-40 hitting a record as investors rated the best-performing data for jobs in October in the US and the – promising – news about the Pfizer pill against him. coronavirus.
In particular, the pan-European Stoxx 600 recorded gains of 0.05% at 483.44 points, recording the fifth consecutive week of gains with an increase of 1.7% per week. At the same time, the other pan-European Stoxx 50 added 0.69% to 4,363.04 points.
On the rest of the board, the German DAX gained 0.15% to 16,054.36 points, the British FTSE 100 strengthened by 0.33% to 7,303.96 points and the French CAC-40 closed at 7,040.79 points with an increase of 0.76%, exceeding the psychological level of 7,000 points for the first time in its history.
In the periphery, the Spanish IBEX-35 recorded gains of 1.01% to 9,130.60 points and the Italian FTSE MIB added 1% to 27,795.93 points.
Pfizer announced The coronavirus pill, combined with an HIV drug, reduces the risk of hospitalization or death by 89% in high-risk adults exposed to the virus, the pharmaceutical company said on Friday.
In the meantime, the US economy added Another 531,000 jobs were created last month, following a revised September increase of 312,000 from 194,000 initially, according to data released by the US Department of Labor.
Back in Europe, the Bank of England surprised markets on Thursday, keeping its key interest rate unchanged at its all-time low, following the US Federal Reserve’s announcement on Wednesday that it would start cutting markets in November on its quantitative easing program. to deal with the coronavirus crisis.
A similar attitude is held by the European Central Bank, with Christine Lagarde to clarify in a speech of this week that an increase in interest rates next year is extremely unlikely.
At the macro of the day, data released today by Eurostat showed that retail sales fell in the Eurozone in September, surprising analysts who were expecting a rise.
In particular, retail sales fell by 0.3% on a monthly basis in September, while from the corresponding month of 2020 they increased by 2.5%, as announced by the European Statistical Office. Analysts in a Reuters poll spoke of a rise of 0.3% on a monthly basis and 1.5% from the same period last year.
The August data was revised upwards, with Eurostat announcing a 1% increase from 0.3% previously.
Germany, the largest economy in the Eurozone, recorded the largest decline in sales with a dip of 2.5%, while in negative territory were the measurements in Finland (-1.9%) and the Netherlands (-1.2).
The data on the course of industrial production in Germany were also disappointing.
Total industrial production fell 1.1% in September on a monthly adjusted basis, according to the statistical service Destatis, refuting analysts’ estimates for a 1% increase.
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