European stocks drift lower despite UK inflation falling to target

Investing.com - European stock markets edged lower Wednesday despite U.K. inflation falling back to the Bank of England’s target, with activity muted by a U.S. holiday.rose by 2.0% on an annual basis in the 12 months to May 2024, down from 2.3% in April, and back to the Bank of England’s target for the first time since July 2021.

The central bank is still widely expected to stand pat on rates, with data last week showing British wages picked up more quickly than forecast, but a cut could now be on the horizon.) to snatch the crown of most valuable company at the close Tuesday as the chipmaker continued to ride AI-wave to new heights.

Europe must foster greater political stability, cut red tape and reduce energy price volatility to reverse a declining trend in foreign investment, consulting firm EY said on Wednesday based on a survey of business leaders. European markets were hit hard last week after the European Parliament elections saw a swing to the far-right party, prompting French President Emmanuel Macron to call a snap election.Scan QR code to install app

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