European electricity for delivery on Monday rose on Friday, driven up by an expected plunge in wind power supply. We expect volatile wind power generation in Germany and throughout the region this weekend and into Monday, while consumption is also forecast to drop week on week on higher temperatures, Refinitiv analysts said.
Business activity in the euro zone bounced back to growth in January, according to a survey which suggested the bloc's economy might again escape a contraction this quarter and that the upturn may accelerate.
Euro zone companies expect to slow the pace of price increases this year as their outlook for costs and demand becomes less clear, a survey by the European Central Bank showed. The central bank raised interest rates for the fifth straight times on Thursday and signalled more hikes ahead, reaffirming it would stay the course in the fight against high inflation.
Business activity in the euro zone bounced back to growth in January, according to a survey which suggested the bloc's economy might again escape a contraction this quarter and that the upturn may accelerate.
German services sector activity rose in January for the first time in seven months and companies showed increased optimism, a survey showed on Friday. S&P Global's final services Purchasing Managers' Index rose to 50.7 from 49.2 in December, going above the 50.0 threshold that separates growth from contraction.
Former European Central Bank chief Mario Draghi is not interested in a new job as a European Union envoy, a source close to him said on Thursday, despite the Italian government saying earlier it would support him. German newspaper Handelsblatt reported this week that Draghi was being considered for the position of special envoy for EU's "Global Gateway" strategy.
* Euro zone shares jump 1.8% * Real estate, tech stocks lead gains. * ECB promises one more 50 bps rate hike. * BoE signals rates near peak. * Infineon rises on upbeat profit margin outlook. By Amruta Khandekar and Ankika Biswas.
German Economy Minister Robert Habeck still sees a good chance that Sweden's battery maker Northvolt will build a plant in northern Germany, DPA news agency said on Thursday. Habeck, who is on a visit to Sweden, plans to meet the Northvolt chief executive on Friday, DPA said, adding that a decision on the plant location was expected in the first quarter of the year.
German Economy Minister Robert Habeck expressed optimism on Thursday that a trade dispute with the United States over subsidies can be avoided. "I think we have a good chance of avoiding a trade conflict," Habeck said in Berlin before the start of a trip to Sweden, adding that Europe and the United States shared common values and goals.
* Massive decline in exports points to challenging year -DIHK. * Germany's trade surplus fell for the fifth consecutive year. * Imports from Russia rose to a total of 35.3 billion euros. By Maria Martinez.
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