European stocks were choppy Friday after fresh euro zone data showed inflation picked up slightly in May ahead of an anticipated rate cut from the European Central Bank next week.index was down 0.03% by 10:24 a.m. London time, shortly after the print. Sectors traded in mixed territory, with tech stocks losing 1.1% while oil and gas added 0.7%.The uptick comes as the European Central Bank is widely expected to cut interest rates at its June 6 meeting, the first reduction since 2019.
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.Emanuele Cremaschi | Getty Images News | Getty Images
On an annual basis, gross domestic product for the January to March period was up to 0.7% from the 0.6% previously estimated.LONDON, UNITED KINGDOM - 2021/05/17: A scene outside JD sport shop. The Prime Minister announced that England can proceed to Stage Three on May 17, 2021. Most shops can reopen including indoor.
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