{"id":59795,"date":"2025-05-16T09:05:34","date_gmt":"2025-05-16T09:05:34","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/05\/16\/european-shares-edge-higher-in-cautious-trade-6\/"},"modified":"2025-05-16T09:05:34","modified_gmt":"2025-05-16T09:05:34","slug":"european-shares-edge-higher-in-cautious-trade-6","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/05\/16\/european-shares-edge-higher-in-cautious-trade-6\/","title":{"rendered":"European Shares Edge Higher In Cautious Trade"},"content":{"rendered":"
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European stocks traded higher on Friday as a slew of weak U.S. economic data suggested the Federal Reserve may have more leeway to cut interest rates later this year.<\/p>\n

There is still considerable uncertainty despite the recent U.S.-China trade truce helping ease economic worries.<\/p>\n

Fed Chair Jerome Powell warned in a speech on Thursday that near- zero interest rates are likely to be a thing of the past, and potentially more persistent, supply shocks could goose inflation higher and present a “difficult challenge for the economy<\/span> and for central banks.”<\/p>\n

Closer home, Latvian ECB Governing Council member Martins Kazaks indicated market pricing of a 25bps cut at the June 5 meeting is “relatively appropriate”.<\/p>\n

The pan European STOXX 600 climbed 0.6 percent to 550.13 after rising 0.6 percent on Thursday. <\/p>\n

The German DAX jumped 0.7 percent, while France’s CAC 40 and the U.K.’s FTSE 100 were up around half a percent each. <\/p>\n

United Internet AG surged 6 percent. The German Internet conglomerate said it would invest up to \u20ac300 million to boost its stake in mobile subsidiary 1&1 from 80.8 percent to 90 percent.<\/p>\n

ASSA ABLOY AB gained 1 percent. The world’s leading manufacturer of locking systems has acquired TeleAlarm Group, a European provider of remote care technology<\/span> that combines hardware and software solutions.<\/p>\n

Cartier owner Richemont soared 6 percent as it reported a slightly better-than-expected 7 percent rise in quarterly sales. <\/p>\n

Reinsurer Swiss Re added 1.4 percent on posting stronger-than-expected Q1 results.
Commercial property firm Land Securities declined 1.7 percent after delivering positive annual results. <\/p>\n

Workspace Group shares plummeted 10 percent. The landlord foresees a trading profit headwind of approximately \u00a37 million by March 2026.<\/p>\n

In economic releases, France’s jobless rate rose marginally in the first quarter, the statistical office INSEE reported.<\/p>\n

The ILO unemployment rate stood at 7.4 percent, up from 7.3 percent in the fourth quarter of 2024. The rate matched economists’ expectations.<\/p>\n

The number of unemployed people increased 64,000 from the previous quarter to 2.4 million. <\/p>\n<\/p>\n

Business News<\/p>\n<\/div>\n