European stocks head lower as more consumer price data adds fuel to inflation debate

The pan-European Stoxx 600 SXXP, -0.27% fell 0.3% while in London the FTSE 100 UKX, -0.50% declined 0.5%. Paris’ CAC 40 PX1, -0.17% dipped 0.2% with Frankfurt’s DAX DAX, -0.12% slipping 0.2%. U.S. stock market futures were pointing down, with Dow industrials futures YM00, -0.06% indicating an open 25 points lower after the index fell 107 points on Tuesday to close at 34,888.

It was the 0.9% rise from May to June recorded by the U.S. consumer price index that captured investors’ attention in the previous session. U.S. CPI firmly outpaced analyst expectations, gaining at the fastest monthly rate since 2008 and stoking the debate over whether inflation concerns are transitory or more permanent.“Inflation has risen ahead of economist’s expectations and is now firmly above the Bank of England’s target.

However, the U.K.’s producer price index, which measures inflation from the perspective of producers, showed signs of cooling. U.K. PPI rose 4.3% year-over-year, down from 4.4% in the month prior and below expectations of 4.8%. Barratt BDEV, +0.66% stock rose more than 1% as one of the U.K.’s largest housing developers said in a trading update that it expects full-year profit before tax to be above the top end of the range of market expectations. The group noted strong housing demand across the country.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia-Pacific stocks mixed after hotter-than-expected U.S. inflation reportU.S. inflation surged in June at its fastest pace in nearly 13 years, the Labor Department reported Tuesday. This is inflation in USA has nothing to do with Asian Stockmarket or countries , stop manipulate our markets , you have problems in USA we didn’t have this problem in Asia simple as it is , bad luck 🍀 . good luck This is USA inflation not Asia inflation , so why do you need Asia Stockmarket follow you for USA problems .
Source: CNBC - 🏆 12. / 72 Read more »

Treasury yields extend slide as investors gear up for Powell testimony and big week for earnings, dataYields for long-dated U.S. government debt on Monday edge lower as investors await a batch of important economic reports, notably data on inflation, due...
Source: MarketWatch - 🏆 3. / 97 Read more »