European stocks edge higher; political developments in focus

Investing.com - European stock markets edged higher Thursday, boosted by overnight gains on Wall Street as investors focus on political developments in the region.posting record highs in holiday-shortened trade, after weak labor and economic activity readings increased the likelihood that the Federal Reserve will cut interest rates by September.cut interest rates last month and signalled more easing in the coming months, but made no commitment about the timing of the next move.

However, International Monetary Fund European Department Director Alfred Kammer took a different stance, saying disinflation in the region remains on track, providing room for the central bank to cut interest rates further. The opposition Labour Party is widely expected to record a significant win, ending 14 years of the Conservative Party in power.

PMI data from top importer China also underwhelmed on Wednesday, also raising concerns about the strength of the economic recovery in the world’s largest crude importer.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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