European stocks move higher as investors digest fresh euro zone inflation; JD Sports down 5.7%

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European stocks moved higher Friday afternoon as investors digested fresh euro zone inflation data and its implications for next week's European Central Bank rate decision.

European stocks moved higher Friday afternoon as investors digested fresh euro zone inflation data and its implications for next week's European Central Bank rate decision.index was up 0.2% by 3:17 p.m. London time. Sectors were mostly in positive territory, with utilities adding 0.68% while retail lost 0.58%.trailed at the bottom of the pan-European benchmark, dropping as much as 12% before paring losses slightly, after it reported a fall in first-quarter U.K. sales.

Higher energy costs pushed up inflation from 2.4% in April and beyond the average EU-harmonized rate of 2.5% forecast by a Reuters poll of economists. The data print comes with the European Central Bank widely expected to cut interest rates at its June 6 meeting, the first reduction since 2019. The ECB began its latest hiking cycle in July 2022, hauling rates out of negative territory to 4% at present.Two women hold an umbrella while sitting at an outdoor table of a cafe on April 01, 2024 in Rome, Italy.Italy's economy grew in line with expectations in the first quarter, expanding 0.

The U.K.'s FTSE 100 was last seen down 2 points at 8,230, Germany's DAX 48 points lower at 18,463, and France's CAC down 9 points at 7,967. Italy's MIB was seen slipping 13 points to 34,486.CNBC Pro: 'Many happy returns': Barclays names 2 global stocks it says has over 100% upside to play right now

 

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