Traders work on the floor of the New York Stock Exchange. The Nasdaq and the S&P 500 edged up, boosted by gains in Tesla and megacap stocks, while the Dow was flat with investors assessing Federal Reserve chairman Jerome Powell’s comments on the need for more evidence before cutting rates.
Elsewhere, shares in budget airline Ryanair dipped despite new figures showing the carrier’s monthly passenger total exceeded 19 million for the first time in June. The supermarket group said total grocery sales lifted 4.8 per cent over the quarter to June 22nd, although this was the slowest seen for many quarters as food inflation eased back significantly. Shares in the business finished 2.87 per cent lower at 250.4p at the close.
ShoeZone was on a weak footing after the high street chain sold fewer shoes than expected between April and June and warned over profits due to bad weather and high shipping costs. Axel Rudolph, senior market analyst at IG, said: “Despite the euro area inflation rate slowing to 2.5 per cent year-on-year and the euro zone jobless rate holding steady at a record low of 6.4 per cent, European stock indices continue to fall.
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