European Car Market Grows Significantly
The European Automobile Manufacturers Association reported on Tuesday that the registration of new cars grew significantly in October compared to a year ago, with an increase of 14.6 percent across the EU region. This was driven by strong demand in countries like France, Italy, Spain, and Germany, where the market share of electric cars also rose to 14.2 percent from 12.0 percent at the same time last year.
British Public Sector Borrowing Rate Increases
In the UK, the net borrowing rate of the public sector, excluding banks, was 14.9 million pounds in October – the second highest level since 1993. Additionally, this loan amount exceeded the forecast of 13.7 million pounds, indicating a higher level of borrowing than expected.
Wall Street Predicts Bearish Opening
Looking ahead to Wall Street’s opening on Wednesday morning, futures are predicting a bearish trend for investors as concerns continue to grow about rising interest rates and global economic uncertainty. The Euro Stoxx 600 index was up 0.1 percent while other indices like FTSE and DAX were down by similar margins in their respective regions – London and Frankfurt. In Paris and Stockholm, indices showed slight declines as well while markets remained relatively stable in other parts of Europe