• Sat. Dec 9th, 2023

Mixed Opening at European Stock Exchange Amidst Significant Increase in New Car Registrations


Nov 21, 2023

In the European Union region, the car market experienced significant growth in October, with a 14.6 percent increase in the registration of new cars compared to the previous year. This was announced by the European Automobile Manufacturers Association on Tuesday. The growth was driven by strong demand for new cars across Europe, with France experiencing a 21.9 percent increase in new car registrations, Italy up 20 percent, Spain up 18.1 percent and Germany up 4.9 percent. The market share of electric cars also rose to 14.2 percent from 12.0 percent at the same time last year, reflecting growing concerns about climate change and air pollution.

In London, the FTSE index fell slightly by 0.1 percent after just a short period of trading. Meanwhile, in Frankfurt, the DAX index saw a slight rise of 0.2 percent, while in Paris the CAC 40 index also fell by 0.1 percent and in Stockholm’s OMXS30 index was down by the same amount as well as Euro Stoxx 600 index which saw an increase of only 0.1%.

The net borrowing rate of Britain’s public sector excluding banks came out to be £14.9 million pounds in October which is almost double from what it was predicted to be at £13.7 million pounds indicating a bearish opening for Wall Street Futures

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