EUROPE Stocks trade mostly lower

European stock markets were mostly lower on Friday, 02 December 2022, as risk sentiments turned downbeat after weaker than expected German export data and as investors eye an EU-led cap on Russian oil prices and non-farm payrolls data from the U.S. later today.

At 13:30 GMT, the pan European Stoxx 600 index edged down 0.01% to 443.91. The U.K.'s FTSE 100 index fell 0.1% to 7,550.33. France's CAC 40 index rose 0.15% to 6,764.05. Germany's DAX index gained 0.56% to 14,571.08. Switzerland's Swiss Market index dropped 0.22% to 11,213.47.

ECB President Christine Lagarde warned on Friday that some European governments' fiscal policies could lead to excess demand, prompting the central bank to have to tighten monetary policy more than would otherwise be necessary.

ECONOMIC NEWS: Germany recorded a fall in both exports and imports in October, official data showed on Friday. According to Destatis, the Federal Statistical Office, exports eased by a larger-than-forecast 0.6% month-on-month, to 133.5 billion euro, while imports also fell by more than expected, down 3.7% at 126.6 billion euro. As a result, the trade surplus - a country's balance of exported and imported goods - declined to 5.3 billion euro from 12.5 billion euro a year earlier.

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