European stocks close higher as US inflation softens

European stocks close higher as US inflation softens

Germany’s DAX 30 performs best, soaring 479 points, or 3.51%

By Ovunc Kutlu

ANKARA (AA) - European stocks closed with significant gains Thursday as softening inflation in the US eased worries about the Federal Reserve's future rate hikes.

The STOXX Europe 600, which includes around 90% of market capitalization of the European market in 17 countries, was up 11 points, or 2.75%, to finish at 431.89.

The UK’s FTSE 100 increased 79 points, or 1.08%, to close the fourth trading day of the week at 7,375.

Germany’s DAX 30 was the best performer of the day, soaring 479 points, or 3.51%, to 14,146.

France’s CAC 40 added 126 points, or 1.96%, to end the day at 6,556 and Spain’s IBEX 35 rose 92 points, or 1.15%, to reach 8,133.

Italy’s FTSE MIB jumped 614 points, or 2.58%, to 24,394 at the closing bell.

US annual consumer inflation came in at 7.7% in October, easing from 8.2% in September, according to Labor Department figures. The figure is the smallest 12-month gain since January 2022.

The softening of US inflation created the possibility that the Fed could lower the magnitude or slow the pace of rate hikes in coming months.



Kaynak:Source of News

This news has been read 119 times in total

ADD A COMMENT to TO THE NEWS
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
Previous and Next News