• Sat. Dec 2nd, 2023

Mixed Opening at European Stock Exchange as Car Registrations Surge


Nov 21, 2023

In London, the FTSE index was down 0.1 percent while in Frankfurt, the DAX was up 0.2 percent. Meanwhile, the CAC 40 index in Paris was also down 0.1 percent and the OMXS30 index in Stockholm was down by the same percentage. However, the Euro Stoxx 600 index finished up by 0.1 percent on Tuesday.

The European Automobile Manufacturers Association announced that new car registrations grew significantly in October compared to a year ago, with a rise of 14.6 percent across the EU region. The increase was particularly strong in France, where new car registrations jumped by 21.9 percent, and Italy saw a growth of 20 percent, Spain with an increase of 18.1%, and Germany with an uptick of just 4.9%. The market share of electric cars also rose to 14.2% from 12% at the same time last year as more consumers made environmentally conscious choices when purchasing their vehicles.

Futures are predicting a bearish opening for Wall Street as investors weigh concerns over global economic growth and rising interest rates against recent gains in technology stocks and geopolitical tensions around trade negotiations between China and the US

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