Stoxx 600 Rises 0.5% as UK Inflation Misses at 2.8%
Updated
Updated · CNBC · May 20
Stoxx 600 Rises 0.5% as UK Inflation Misses at 2.8%
6 articles · Updated · CNBC · May 20
By 11:45 a.m. London time, the pan-European Stoxx 600 was up more than 0.5%, with miners and tech stocks leading gains while retail and media lagged.
The advance came as investors weighed a softer-than-expected U.K. inflation reading of 2.8% for April, below the 3% Reuters poll and down from 3.3% in March.
That data pushed the pound slightly lower against the dollar and euro, while the 10-year gilt yield fell 5 basis points to 5.075%.
Bond markets remained a constraint more broadly: the U.S. 30-year Treasury yield topped 5.19%—its highest since 2007—and the 10-year approached 4.69%.
Markets were also tracking geopolitical risk after Donald Trump said he had been an hour away from deciding on a strike on Iran before delaying it for a few days.
With UK inflation's dip masking a looming 'brutal surge,' what will be the true cost of the Iran war for European households?
Beyond inflation, how are geopolitical conflicts and cyber threats permanently reshaping the future of Europe's struggling retail sector?
As Europe's green ambitions fuel a mining boom, can the continent secure critical minerals without sacrificing its protected natural areas?