European Stocks Waver as Economic Picture Darkens: Markets Wrap

News Snapshot:

(Bloomberg) — European shares wavered after the latest economic data highlighted Germany’s struggle to recover from an energy-induced downturn last winter and the mounting impact of higher borrowing costs. Most Read from Bloomberg A drop in household spending drove Germany’s contraction in the third quarter as Europe’s largest economy began what the Bundesbank reckons may be a recession. Gross domestic product shrank 0.1% in the three months through September, the statistics office reported Friday, confirming an initial reading. The Stoxx Europe 600 index was little changed at the open, holding onto a modest weekly gain. Luxury stocks including Hugo Boss...