In European equioty market action Tuesday, London's FTSE-100 index, which rose 15 pts yesterday, fell 63.80 points to 6108.60, tracking U.S. markets lower on a larger-than-
expected rise in Sept. core PPI and a fall in industrial output. FTSE breadth was 90-11 negative on trading volume of 1.53 billion
Meanwhile, U.K. headline Sept. CPI rose 0.1%, but
the annual rate slipped to 2.4% from 2.5%, as expected. U.K. core CPI rose 0.3%, pushing the year-over-year rate up to 1.4% from 1.1%. THe CPI data strengthened the Bank of England's case for interest rate hike in November.
Germany's DAX Index, which gained 13 points Monday, declined 71.44 points to 6115.10 as German Oct. consumer confidence unexpectedly fell to a 13-year low of -27.4 from Sept.'s -22.2 reading. German stocks likely fell in sympathy with lower U.S. equities on a larger-than-expected September core PPI reading. DAX breadth was 30-0 negative on trading volume of 111 million shares.
Eurozone August industrial production rose more than expected 1.8%. Eurozone September CPI was revised down to 1.7% year-over-year from 1.8% previously. The euro was higher vs. the dollar. Bunds rose on weaker-than-expected German October consumer confidence.
In Paris, the CAC-40 Index, which edged up 9 points Monday, slipped 58.98 points to 5302.99. CAC breadth was 38-2 negative on trading volume of 119 million shares.