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Brussels\/Frankfurt\/Paris (dpa-AFX) – European markets closed marginally higher on Wednesday, despite looking for direction almost right through the day’s session.<\/p>\nBrussels\/Frankfurt\/Paris (dpa-AFX) – European markets closed marginally higher on Wednesday, despite looking for direction almost right through the day’s session.<\/p>\n
Investors, apart from digesting the latest batch of economic data from the euro area and China, looked ahead to the Federal Reserve’s monetary policy announcement for clues on inflation and growth outlook, and hints about any possibility of tapering of asset-buying programnes.<\/p>\n
Chinese factory output, investment growth and retail sales figures all missed expectations, due to disruptions caused by Covid-19 outbreaks in the country’s southern export powerhouse of Guangdong.<\/p>\n
Meanwhile, data from the Office for National Statistics showed earlier in the day that British consumer price inflation accelerated to 2.1 per cent in May, from 1.5 per cent in April. This was above economists’ forecast of 1.8 per cent and the Bank of England’s target of 2 per cent.<\/p>\n
British house price growth slowed in April for the first time since mid-2020, the Office for National Statistics said. Average house prices increased 8.9 per cent year-on-year in April, slower than the 9.9-per-cent rise in March.<\/p>\n
The rate of inflation slowed for the first time since July 2020.<\/p>\n
Meanwhile, the ifo Institute said in its summer forecast that the German economy is set to grow at a slower-than-previously estimated pace this year as the bottlenecks in the supply of intermediate products weigh on manufacturing activity.<\/p>\n
Gross domestic product is expected to grow 3.3 per cent in 2021, down from the 3.7-per-cent growth estimated in March. However, the projection for next year was lifted to 4.3 per cent, from 3.2 per cent.<\/p>\n
The pan-European Stoxx 600 advanced 0.23 per cent.<\/p>\n
Britain’s FTSE 100 gained 0.17 per cent, France’s CAC 40 climbed 0.2 per cent and Switzerland’s SMI surged up 0.5 per cent, while Germany’s DAX shed 0.12 per cent.<\/p>\n
Among other markets in Europe, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Russia and Sweden ended higher.<\/p>\n
Austria, the Czech Republic, Greece, Iceland, Poland, Spain and Turkey closed weak.<\/p>\n
Flutter Entertainment, Renishaw, Weir Group, Admiral Group and Bunzl gained 2 to 3.25 per cent. Rolls-Royce Holdings, Johnson Matthey, Aveva Group, Intertek Group, Berkeley Group, RightMove, IHG, BT Group and Sainsbury (J) also ended notably higher.<\/p>\n
Associated British Foods, Vodafone Group, Glencore, Anglo American Plc, Barclays Group, BP and Segro shed 1 to 2 per cent.<\/p>\n
In France, WorldLine, Safran, Air Liquide, Renault, Pernord Ricard, Michelin, Airbus Group, Dassault Systemes and Air France-KLM closed notably higher.<\/p>\n
Societe Generale, ArcelorMittal, Credit Agricole, Faurecia, Carrefour, BNP Paribas and Valeo shed 1 to 2.5 per cent.<\/p>\n
In the German market, Munich RE, MTU Aero Engines, Beiersdorf and RWE moved up sharply, while Thyssenkrupp, Deutsche Bank, BMW, Merck, Continental, Siemens and SAP closed notably lower.<\/p>\n
Shares of Dutch retailer Colruyt Group plunged sharply after the company issued a profit warning.<\/p>\n
The Fed is widely expected to leave monetary policy unchanged today. The central bank’s accompanying statement is expected to provide clues about future rate outlook, inflation and possibility of tapering of asset buying programs.Many analysts expect the Fed to signal that it is starting to think about tapering.<\/p>\n
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Brussels\/Frankfurt\/Paris (dpa-AFX) – European markets closed marginally higher on Wednesday, despite looking for direction almost right through the day’s session. Investors, apart from digesting the latest batch of economic data from the euro area and China, looked ahead to the Federal Reserve’s monetary policy announcement for clues on inflation and growth outlook, and hints about […]<\/p>\n","protected":false},"author":1,"featured_media":764750,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1093863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualidad"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t