European stocks rose Monday, January 9, extending the year’s positive start to the year for a second week, as China reopened its borders and US and European data contributed to calming concerns about the strong tightening of monetary policy by central banks.<\/p>\n\n\n\n
The pan-European Stoxx 600 rose 0.3%.<\/p>\n\n\n\n
The index recorded its best weekly performance in 9 months on Friday after a group of positive data, including strong factory activity in the euro zone and low inflation in the region, conscious of data that indicated a less severe recession than expected and a decline in price pressures.<\/p>\n\n\n\n
<\/p>\n\n\n\n
The European Union’s statistics office “Eurostat” said Monday, January 9, that the unemployment rate in the eurozone did not change in November and remained at a record low level as expected, as the number of unemployed fell slightly.<\/p>\n\n\n\n
He added that the unemployment rate in the 20 euro-dealing countries was 6.5 percent of the labor force in November, the same rate as in October and in line with expectations of economists polled by Reuters.<\/p>\n\n\n\n
The number of unemployed fell to 10.849 million in November from 10.851 million in October, a sign that the labor market is still tightening despite economists forecasting a technical recession from the fourth quarter of 2022.<\/p>\n\n\n\n
<\/p>\n\n\n\n
Manufacturers said in a poll published Monday (January 9th) that Britain has become less competitive and less attractive to foreign investors due to rising energy costs and recent political turmoil.<\/p>\n\n\n\n
A survey by Make UK, the main trade body for UK manufacturers, and the auditing firm PwC indicated that the percentage of manufacturers who believe Britain is a competitive location has halved to 31% from 63% a year earlier, and 43% said that Britain is becoming less attractive to foreign investors.<\/p>\n\n\n\n
The poll, which included 235 companies, was conducted during the period from November 1 to November 22 of the same month, when the turmoil of the short-lived Liz Terrace government was fresh in people’s minds.<\/p>\n\n\n\n
Fifty-three percent of companies said that the ongoing political instability has hurt business confidence.<\/p>\n\n\n\n
<\/p>\n\n\n\n
The Eurozone Sentix Investor Confidence index rises to \u201317.5 in January from -21.0 in December.<\/p>\n\n\n\n
The current situation in the Eurozone rose to -19.3 from -20.0, the highest since August 2022 and also the third consecutive rise.<\/p>\n\n\n\n
An expectations index improved to -15.8 from -22.0 in December, the highest level since February 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"
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