European stock markets close negative after German industrial production falls

The main European stock markets closed this Thursday with generalized losses after the data on the gross domestic product (GDP) of the eurozone, requests for unemployment benefits in the US and the decline in German industrial production were released.

Madrid has experienced the biggest drop of the day, 1.09%; while Frankfurt has lost 0.16%; Paris, 0.10%; Milan, 0.67%; and London, 0.02%, according to market data consulted by EFE.

All the major European stock markets started the day with losses that they have not managed to recover, except London, which at various times during the day made profits, only to end up closing in negative territory.

The Eurostoxx 50, which groups together the main companies in Europe, fell 0.21%.

Asian stock markets have also recorded falls at closing: Tokyo, 1.76%; Shanghai, 0.24%; and Hong Kong, 0.71%.

Wall Street opened the session positively, with the Dow Jones rising 0.13%; the S&P 500, 0.72%; and the Nasdaq, 1.24%.

This Thursday the Eurozone GDP figure was released, which recorded a contraction of 0.1% in the third quarter, as well as German industrial production, which fell 0.4% month-on-month in October.

This last data has been worse than expected and, according to Bankinter analysts, reflects the “weakness” of the manufacturing sector.

Pending the official results tomorrow, weekly unemployment claims in the US have also been published today, which have reached 220,000, which represents an increase of 1,000 claims compared to the previous week, although it is below the 222,000 that were expected.

Gold fell at the close of the European stock markets to $2,022 (a decrease of 3.1%); while the barrel of Brent rose 0.14% at the last minute to $74.17.

The euro rose slightly against the dollar until it changed to 1.0791 units.

In the debt market, the yield on the German bond, considered the safest, rises slightly and stands at 2.187%.