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european markets decline as us jobs data fuels economic concerns
Mercedes-Benz reported a 5% increase in fourth-quarter sales from the previous quarter, though overall sales for 2024 fell 4% to 2.4 million cars. Meanwhile, Ubisoft's shares dropped 8% following the delay of its "Assassin's Creed Shadows" game to March 20, 2025, and the British pound continued to decline, trading at $1.2287 amid rising government borrowing costs. European markets closed lower as U.S. job growth exceeded expectations, leading to a spike in Treasury yields and a drop in regional currencies.
barclays favors german stocks amid concerns over french political instability
Barclays favors German blue-chip stocks over French ones, citing France's weak fiscal fundamentals and political instability. As borrowing costs rise, concerns grow over the French government's ability to pass a budget, with potential implications for market stability and investor confidence. The risk of bond vigilantes looms if political uncertainty persists, potentially widening the yield spread between German and French debt.
european markets set for mixed opening ahead of inflation data release
European markets are set to open mixed as investors await euro zone inflation data, with the U.K.'s FTSE 100 expected to rise slightly while Germany's DAX, France's CAC, and Italy's FTSE MIB are projected to decline. The pan-European Stoxx 600 index closed up 0.45% previously, and attention is focused on upcoming inflation readings ahead of the European Central Bank's meeting on December 12. Meanwhile, British insurer Aviva is reportedly in talks with Direct Line shareholders, potentially signaling a hostile takeover attempt after Direct Line rejected Aviva's offer as undervalued.
hollande urges european unity in response to trump's protectionist policies
Former French President François Hollande emphasized the necessity for European unity in response to U.S. protectionism following Donald Trump's election. He warned that Trump's potential disengagement from Europe could jeopardize security and trade, urging key nations like France, Germany, Poland, and the UK to collaborate against these threats. Hollande expressed concern over Trump's approach to the Ukraine conflict, predicting negotiations that could undermine Ukraine's territorial integrity and set a dangerous precedent for international law.
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