In the latest trading session, European stock markets exhibited a mixed performance. The Stoxx Europe index fell by 0.27%, while Germany's DAX index dropped 0.12%. The FTSE in London saw a slight increase of 0.07%, contrasting with a decline of 0.49% in France's CAC index. The Swiss Market Index managed to gain 0.38%.
Economic indicators showed that industrial producer prices rose 1.6% in the euro area and 1.7% in the European Union for November, as per preliminary estimates from Eurostat, the statistical office of the EU. Year-over-year comparisons revealed that industrial producer prices decreased by 1.2% in the euro area and 1.1% in the EU.
In Germany, price adjusted retail sales saw an uptick of 1.3% in 2024, translating to a nominal growth of 2.7% compared to 2023, based on data released by the Federal Statistical Office. Meanwhile, in France, the household confidence index fell to 89 in December, down from 90 the month prior, which remains below the long-term average of 100.
This data was reported by the Institute of Statistics and Economic Studies. On the corporate front, Deutsche Bank is poised to acquire a portfolio of non-performing loans for approximately $800 million from First Abu Dhabi Bank, according to Bloomberg's report, which cited unnamed sources familiar with the development.
When approached for comments, Deutsche Bank declined to provide a statement, while First Abu Dhabi Bank remained unresponsive. In other news, BP's M/s BP Exploration unit has secured a contract from India's Oil and Natural Gas Corporation (ONGC) to provide technical services aimed at reviewing field performance and identifying improvements for the offshore Mumbai High Field.
ONGC's regulatory filing indicated the intent to enhance production from the field. Following this announcement, BP shares saw a slight decline of 0.38% on the FTSE. Shell, another significant player in the oil and gas sector, anticipates weaker trading results for Q4 compared to Q3, primarily due to reduced liquefied natural gas production and a drop in trading performance.
As a result, shares of the British oil and gas company ended the day down 1.4% in London. In a significant healthcare collaboration, Novo Nordisk and Valo Health announced their plans to discover and develop new treatments targeting obesity, type 2 diabetes, and cardiovascular disease. In response to this development, shares of the Danish pharmaceutical giant rose by 2.8% during trading in Copenhagen..