European stocks close lower, recording weekly losses

European stocks close lower, recording weekly losses

European stocks

European stock indices fell during today’s trading, recording their second consecutive weekly loss, as markets evaluated the Federal Reserve’s monetary policy statements.

Government data revealed that house prices in the eurozone rose by 8.8% in the third quarter, and Britain’s gross domestic product grew by 0.9% during November.

This week, markets closely followed the statements of Federal Reserve Chairman Jerome Powell and central bank officials who hinted at preparing to accelerate the pace of rate hikes to counter rising inflation.

At the end of trading, the benchmark “Stoxx Europe 600” index fell by 1%, or the equivalent of 5 points, to 481 points, and recorded losses this week by 1%.

The British “FTSE 100” index fell by 0.3% to 7,543 points, the German “Dax” decreased by 0.9% to 15,883 points, while the French “CAC” decreased by 0.8% to 7,143 points.

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