{"id":36543,"date":"2023-07-19T11:35:50","date_gmt":"2023-07-19T11:35:50","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/07\/19\/european-stocks-gain-on-soft-inflation-data\/"},"modified":"2023-07-19T11:35:50","modified_gmt":"2023-07-19T11:35:50","slug":"european-stocks-gain-on-soft-inflation-data","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/07\/19\/european-stocks-gain-on-soft-inflation-data\/","title":{"rendered":"European Stocks Gain On Soft Inflation Data"},"content":{"rendered":"
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European stocks are broadly higher on Wednesday thanks to soft inflation data from the U.K., and rising expectations that the Federal Reserve’s rate hiking cycle will end soon.<\/p>\n

The major markets<\/span> in Europe are all up in positive territory, with the UK market outperforming thanks to data from the Office for National Statistics showing the nation’s annual headline inflation falling to a 15-month low to 7.9% in June, down from 8.7% in May. Meanwhile, core inflation came in at 6.9%.<\/p>\n

The drop in inflation has strengthened the case for a quarter point rate hike from the Bank of England rather than an aggressive half a percentage point increase at the August meeting.<\/p>\n

Meanwhile, final data from Eurostat said the consumer price inflation rate in the Euro Area was confirmed at 5.5% in June 2023, the lowest level since January 2022. However, the core rate, which excludes volatile items such as food and energy, picked up to 5.5 percent, above a preliminary estimate of 5.4%,<\/p>\n

The U.K.’s FTSE 100 is gaining 1.62%. Germany’s DAX and France’s CAC 40 are up 0.2% and 0.5%, respectively. Switzerland’s SMI is up 0.36%, while the pan European Stoxx 600 is climbing 0.43%.<\/p>\n

Among the top gainers in the UK market, British Land Company is up 8.2%, Persimmon is up 7.5% and Hargreaves Lansdown is gaining 7.1%, while Land Securities, Barratt Developments, Taylor Wimpey, Segro and Just Eat Takeaway.com are up 5 to 6.5%.<\/p>\n

Admiral, TUI, Carnival, United Utilities, M&G, Severn Trent, Burberry, Auto Trader Group and Kingfisher are rising 3 to 4%.<\/p>\n

Antofagasta is down by about 2.8%, and Anglo American Plc is lower by 1.2%. Glencore, Rio Tinto, BHP and Fresnillo are modestly lower.<\/p>\n

In the German market, Vonovia is rallying 7.5%. Sartorius, Zalando, Puma, Continental, Symrise, BASF and Siemens Healthineers are up 1 to 2.3%.<\/p>\n

Daimler Truck Holding is declining more than 2% and Covestro is down by about 1.9%. Brenntag, Mercedes-Benz, Siemens, Commerzbank and Infineon are down with moderate losses.<\/p>\n

In the French market, Kering is surging more than 5.5%. WorldLine is gaining 4% and Eurofins Scientific is up 2%.<\/p>\n

Michelin, Dassault Systemes, Bouygues, Orange, Unibail Rodamco, Renault, Vinci and Teleperformance are advancing 1 to 1.8%.<\/p>\n

Publicis Groupe, ArcelorMittal, Schneider Electric and Legrand are down 1 to 1.6%. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n