Positive image in the European markets

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European stock markets are moving in a positive direction on Friday, closing another week of major market turmoil as investors continue to assess the chances of central banks trying to tame inflation to lead the global economy into recession.

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Aggressive interest rate hikes by major central banks in the US and Europe have sparked concerns about the risk of economic growth and recession. Federal Reserve Chairman Jerome Powell told the US Congress yesterday that the recession was “a possibility” and reiterated that the central bank was “absolutely committed” to reducing inflation.

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On the board, the pan-European Stoxx 600 index gained 0.6% to 404.80 points.

The German DAX is up 0.4% at 12,960.71 points, the French CAC 40 is up 0.85% at 5,934.86 points, while the British FTSE 100 is up 0.5% at 7,054.77 points.

In the region, the Italian FTSE MIB and the Spanish IBEX 35 gain 0.5%.

At the end of the day, data released today by the United Kingdom showed that consumer confidence fell to an all-time low as the country faces the highest inflation in 40 years and a slowing economy.

Source: Capital

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