No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
Market latest
FTSE 100 | FTSE 250 | Paris CAC 40 | Dow Jones | NASDAQ
8265.20 |
29.97 (0.36%)
20878.29 |
134.21 (0.65%)
39765.64 |
408.63 (1.04%)
17187.61 |
407.00 (2.43%)
7306.02 |
30.15 (0.41%)
NaN |
0.00 (0.00%)
Prices delayed by at least 15 minutes
(Sharecast News) - European stocks closed higher on Tuesday following better-than-expected inflation data Stateside.
As of 1630 BST, the benchmark Stoxx 600 was up 0.46% at 501.40, while the DAX advanced 0.44% to 17,804.53, the CAC 40 was 0.29% higher at 7,271.67 and the IBEX 35 surged 0.72% to 10,723.20.
Market participants celebrated news that US producer prices rose by less than expected in July, according to the Bureau of Labor Statistics. Producer prices increased 0.1% to 144.67 points in July, up from 144.53 in June but short of preliminary estimates for a 0.2% month-on-month uptick. On an annualised basis, PPI was up 2.2%.
Closer to home, annual inflation hit 2.8% in Spain last month, according to the National Statistics Institute, in line with preliminary estimates. On a monthly basis, however, inflation declined 0.5%.
Elsewhere, German business sentiment deteriorated sharply in August, according to a survey released on Tuesday. The ZEW indicator of economic sentiment fell 22.6 points from July to 19.2. This marked the worst decline since July 2022. The indicator for the assessment of the current economic situation in Germany also declined, by 8.4 points to -77.3 in August.
However, Europe's main focus this week will be on eurozone GDP and employment numbers, which will be due out on Wednesday.
Reporting by Iain Gilbert at Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.
