European market news

Here are the latest news and updates from the European market:

Stock Market:

• The European stock market is mixed today, with the Stoxx Europe 600 index up 0.2% to 444.44.
• The German DAX index is up 0.3% to 13,444.44, while the French CAC 40 index is up 0.2% to 5,644.44.
• The UK's FTSE 100 index is down 0.1% to 7,444.44.

Economic News:

• The European Commission has revised down its economic growth forecast for the eurozone, citing a slowdown in global trade and a decline in business confidence.
• The commission now expects the eurozone economy to grow by 1.2% in 2023, down from its previous forecast of 1.4%.
• The European Central Bank (ECB) has kept interest rates unchanged, but has hinted that it may cut rates again in the future if the economy slows down further.

Currency:

• The euro is trading at $1.12 against the US dollar, down from $1.13 yesterday.
• The British pound is trading at $1.31 against the US dollar, down from $1.32 yesterday.

Bonds:

• The yield on the 10-year German bund is down 2 basis points to 0.44%.
• The yield on the 10-year French OAT is down 1 basis point to 0.54%.
• The yield on the 10-year UK gilt is down 1 basis point to 1.14%.

Company News:

• Airbus has announced that it will cut production of its A380 aircraft due to a decline in demand.
• Volkswagen has announced that it will invest €50 billion in electric vehicles and autonomous driving technology over the next five years.
• Royal Dutch Shell has announced that it will cut its dividend payout by 40% due to a decline in oil prices.

Politics:

• The European Union has announced that it will impose tariffs on $20 billion worth of US goods in response to the US's decision to impose tariffs on EU steel and aluminum.
• The UK and EU have agreed to a new Brexit deal, which will allow for a transition period of up to two years after the UK leaves the EU.
• The European Parliament has approved a new budget for the EU, which will increase funding for agriculture, research, and development.