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12/28/2022, 5:31 PM (Source: TeleTrader)
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Europe closes mostly lower with economic outlook in focus

European stock markets closed mostly lower on Wednesday as investors continued to assess the global economic outlook ahead of the year-end.

During the day, market participants learned that the price of European gas futures continued dropping, with the Dutch TTF benchmark falling to its lowest point before the start of the war in Ukraine. Meanwhile, Russia announced that its gross domestic product (GDP) fell by 2% annually in the first 11 months of 2022.

At the close, the DAX lost 0.50%, with Infineon down by 1.68%. The CAC 40 fell 0.61%, while Engie decreased by 1.50%, and the FTSE 100 rose 0.32%, as Antofagasta increased by 2.75%. The Euro Stoxx 50 was 0.61% lower at the same time.

The euro was down by 0.21% against the dollar at 5:29 pm CET, selling for $1.06186. In comparison, the pound was flat to go for $1.20287 simultaneously.

Baha Breaking News (BBN) / JG