Eurozone stocks mixed as unemployment reaches fresh zenith
City Index January 8, 2013 10:15 PM
<p>The eurozone’s major stock indices are mixed in trading today as joblessness in the region reaches new highs.</p>
The main eurozone stock benchmarks are mixed in this afternoon's (January 8th) trading session after official figures showed the single currency region's unemployment levels have reached fresh highs.
According to Eurostat, joblessness – which is a lagging indicator – rose to 11.8 per cent in the 17-member state bloc in November 2012, which is a slight increase on the previous month's 11.7 per cent.
The entire European Union (EU) kept its unemployment levels the same at 10.7 per cent over the 30-day period, while Spain continues to suffer from the highest rate of people out of work, struggling with 26.6 per cent joblessness.
More than 26 million people are currently looking for work in the EU, with 18.8 million of these residing in the single currency region.
At 15:05 GMT the pan-European DJ Eurostoxx 50 rose by a marginal 0.1 per cent to 2700.1 points, while the Madrid Ibex advanced to 8477.3 points and the Dax in Germany fell to 7721.2 points.
Learn about the markets and CFD trading at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.