European stock markets concluded the trading session on Thursday with a predominantly positive trend as the Stoxx Europe index experienced a rise of 0.43%. The London FTSE registered an increase of 0.83%, while France's CAC rose by 0.51%. The Swiss Market Index mirrored this upward movement, advancing by 0.43%.
In contrast, Germany's DAX index saw a slight decline of 0.05%, reflecting a more cautious investor sentiment. In economic indicators, the seasonally adjusted retail trade volume in the euro area saw a modest increase of 0.1% in November compared to October, while the EU experienced a rise of 0.2%.
When observing year-over-year data, the calendar-adjusted retail sales index demonstrated an annual increase of 1.2% within the euro area and 1.5% in the broader EU region. The European Central Bank (ECB) reported on Tuesday that the median rate of perceived inflation over the past twelve months rose to 3.4% in November, up from 3.2% in October.
Furthermore, the bank indicated that the median expectations for inflation over the next twelve months had increased to 2.6%, rising slightly from the previous 2.5% estimate. In the UK, a report from KPMG and the Recruitment and Employment Confederation (REC) highlighted concerns regarding the labor market, showing a "further decline" in permanent job placements among companies during December.
The report also pointed out a notable decline in temporary billings during December, occurring at a pace faster than observed in the prior month. Turning to Germany, data from the Federal Statistical Office revealed that exports climbed 2.1% in November compared to October, when adjusted for seasonal and calendar factors.
Conversely, imports experienced a reduction of 3.3%. Consequently, the foreign trade balance for Germany concluded November with a substantial surplus amounting to 19.7 billion euros, equivalent to approximately $20.3 billion, reflecting the country's strong export performance. Additionally, Germany's price-adjusted production in the manufacturing sector showed a healthy increase of 1.5% from October to November. In the corporate landscape, Shell announced plans to write off $400 million related to an offshore oil discovery in Namibia, which has been classified as commercially unviable.
"The discovered resources cannot currently be confirmed for commercial development," a representative from Shell stated during their communication with MT Newswires. Meanwhile, UBS Group is reportedly nearing an agreement to settle alleged violations of U.S. tax laws by the now-defunct Credit Suisse, according to remarks from The Wall Street Journal, which cited informed sources on this matter.
Additionally, Nvidia and Advanced Micro Devices have initiated discussions with the Dutch government concerning the establishment of an artificial intelligence facility in the Netherlands, as confirmed by government representatives..