Euro markets closed with mixed signs

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Euro markets closed on a mixed note on Monday as investors continued to assess the twin threats of persistent inflation and weakening growth.

International stock markets have come under pressure amid growing concerns that aggressive interest rate hikes by central banks in Europe and the US will derail global growth, sending the world’s biggest economies into recession.

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At the same time, inflation shows no signs of slowing as energy prices continue to rally, leaving little room for central banks to ease their policy tightening.

On the board, the pan-European index rose 0.5% to 409.31 points after three consecutive negative sessions.

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Germany’s DAX lost 0.31% and slid to 12,773.38 points, France’s CAC 40 closed with small gains of 0.4% at 5,954.65 points, while Britain’s FTSE 100 gained 0.9% to 7,232.65 points.

In the region, Italy’s FTSE MIB closed with marginal losses of 0.05%, while Spain’s IBEX 35 lost 0.2% to 8,161.80 points.

Italian bonds fell today ahead of Prime Minister Mario Draghi’s meeting with Five Star leader Giuseppe Conte after political tensions in the ruling coalition rekindled. Italy’s 10-year yield climbed 15 basis points to 3.24% today.

Source: Capital

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