European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears
TLDR
- U.S. CPI came in as expected, easing fears of a September Fed rate hike
- European indexes rose broadly, with the FTSE 100 up 0.6%, DAX and CAC 40 each up 0.3%
- UK economy grew 0.4% in Q2, matching forecasts
- Oil prices slipped but held above $80 a barrel amid U.S.-Iran tensions
- Pandora shares jumped nearly 3% after beating Q2 earnings estimates
European stock markets moved higher on Thursday after U.S. inflation data came in line with expectations, reducing the chance of the Federal Reserve raising interest rates in September.
The pan-European Stoxx Europe 600 Index rose 0.2%, continuing its push toward record levels. Gains were spread across the region.
Germany’s DAX and France’s CAC 40 each gained 0.3%. London’s FTSE 100 outperformed, rising 0.6%, helped by positive UK economic data.
The lift came after Wednesday’s U.S. Consumer Price Index report showed headline CPI rising 0.1% month-on-month in July. Core inflation held at 2.5% year-on-year.
BREAKING: July CPI inflation falls to 3.4%, in-line with expectations of 3.4%
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