EUROPE Stocks edge higher

European stocks were edge higher in choppy trade on Friday, 11 November 2022, as traders digest global equity rallies spurred by cooler-than-expected U.S. inflation data and easing of China Covid restriction even as growth data pointed to the U.K. entering a recession.

At 14:20 GMT, the pan European Stoxx 600 index added 0.02%, or 0.14 point, to 432.05. Germany's DAX index rose 0.25%, or 35.91 points, to 14,182. France's CAC 40 index added 0.34%, or 22.19 points, to 6,579.02. The U.K.'s FTSE 100 index fell 0.46%, or 34.19 points, to 7,341.15. Switzerland's Swiss Market index fell 0.23%, or 25.85 points, to 11,094.64.

 

Richemont stocks soared 12% despite the Swiss luxury group reporting a rare loss during its first half after taking a substantial charge related to its exit from online fashion retailer YOOX Net-A-Porter. Still, from its continuing operations, Richemont 's profit increased by 40% and profit margins improved.

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