{"id":1986573,"date":"2023-07-31T06:58:02","date_gmt":"2023-07-31T10:58:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/european-stocks-stoked-by-cooler-inflation-report\/"},"modified":"2023-07-31T06:59:35","modified_gmt":"2023-07-31T10:59:35","slug":"european-stocks-stoked-by-cooler-inflation-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/european-stocks-stoked-by-cooler-inflation-report\/","title":{"rendered":"European stocks rise on lower inflation data."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feuropean-stocks-stoked-by-cooler-inflation-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1986573&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>European Shares Jump as Inflation Falls<\/h2>\n<p>By Nell\u2062 Mackenzie and Wayne Cole<\/p>\n<p>LONDON\/SYDNEY (Reuters) \u2013 European shares jumped on Monday \u200dafter a key economic report for the\u2062 region \u200dshowed a \u2063fall in inflation \u2063\u2013 an optimistic kick-off for a week littered\u200d with major economic data, central bank\u2062 meetings, and earnings updates.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Euro zone inflation \u200bfell further in July and most measures of underlying price growth also eased,\u200c in a largely comforting sign for the European Central Bank (ECB) as it considers ending a brutal string \u2062of interest rate hikes. <\/p>\n<p>Germany\u2019s \u200b<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/european-stocks-stoked-by-cooler-inflation-report\/\" title=\"European stocks rise on lower inflation data.\">blue-chip stocks index\u200d hit<\/a> a\u200c record high at one point \u200dand was last up 0.3%. \u200cThe pan-European STOXX 600 index rose by 0.1%, heading for a \u200csecond consecutive monthly gain.<\/p>\n<p>This lightened the mood in markets \u200cafter China\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manufacturing-activity-slumped-to-11-month-low-in-december\/\" title=\"Manufacturing Activity Slumped to 11-month Low in December\">manufacturing activity fell<\/a> for a fourth straight month \u200cin July, as demand\u200c remained weak at home and abroad, official surveys showed on Monday.<\/p>\n<p>\u201cMarkets are treating information\u200c with a lot more \u200bsensitivity and people are looking into\u2062 new information with a \u200cdetailed eye,\u201d said Florian Ielpo, head of \u2063macro at Lombard \u200dOdier \u200dInvestment Managers.<\/p>\n<p>Figures due \u2062this week\u200d include\u200d the U.S. ISM surveys on\u200d manufacturing and services, as well as the July payrolls\u200c report.<\/p>\n<p>The Bank of England is widely expected to \u2064raise\u2064 rates by\u2062 at least a quarter point, but markets are more divided on whether the Reserve Bank of Australia will hike or stay on hold.<\/p>\n<p>Almost 30% of the S&#038;P 500 report results\u2064 this week and so far, earnings have been good enough to see \u2064the index extend its rally to 10% \u2062since the\u200d start of June.<\/p>\n<p>Futures on both the S&#038;P \u200d500 and the Nasdaq 100 were flat.<\/p>\n<p>Apple Inc and Amazon.com both report on Thursday,\u200b while \u2062other well-known names with results due include \u200cWestern Digital Corp, Caterpillar Inc, Starbucks Corp, and Advanced Micro Devices.<\/p>\n<p>PARSING THE BOJ<\/p>\n<p>Japan\u2019s Nikkei \u2064closed up 1.26% to re-take\u200c the 33,000 level and\u200b nudge\u200b closer to its recent three-decade peak.<\/p>\n<p>Investors are\u200d still pondering the implications\u200b of Friday\u2019s decision by the Bank of Japan (BOJ) to lift \u2062the\u200d lid on bond yields, in a step away from its ultra-easy policies.<\/p>\n<p>Analysts at\u2064 BofA estimate the BOJ\u2019s bond buying added $1.3 trillion to global \u2064liquidity in the past 18 months and provided a low floor for global rates, so any sustained rise in Japanese government bond yields could ripple though other bond markets.<\/p>\n<p>Japanese 10-year yields surged to a nine-year-high up to\u2062 0.6% on Monday, and toward the new cap\u2064 of\u2064 1.0%. That also\u200b put\u200b upward pressure on Treasury yields, where the 10-year rose 2 basis \u200cpoints to 3.98%.<\/p>\n<p>While the\u200b yen had initially rallied \u2064on the BOJ move, \u2062it soon reversed course\u200c as investors still seemed happy \u200cto run carry trades, \u2064or yen-funded positions in higher-yielding currencies.<\/p>\n<p>\u201cFriday\u2019s action\u200b might best be viewed as an attempt to head off a fresh\u2064 wave of yen-weakening carry trade activity, by at least ceasing to resist \u2063pressure for 10-year yields to\u2063 rise above 0.5%,\u201d said Ray Attrill, head\u2064 of FX strategy at National Australia Bank.<\/p>\n<p>Traders cut their bets on a continuing rally in the pound by \u2063the\u200b most since mid-June ahead of the Bank of \u200dEngland rate decision on Thursday.<\/p>\n<p>Sterling has surged 24% \u200cfrom\u2062 a record low of $1.033 against the dollar in September after a disastrous budget, hitting a 15-month high of $1.314 in mid-July.<\/p>\n<p>The euro gained 0.1% to 1.1028 dollars\u200b as did the dollar index rising 0.1% to\u200b 101.700.<\/p>\n<p>In commodities, gold dropped 0.2% to $1,955 an ounce, but still 1.8% higher \u2063for the month so far. 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Euro zone inflation continued to drop in July, indicating further economic challenges.<\/p>\n","protected":false},"author":66,"featured_media":1986574,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1986573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1986573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1986573"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1986573\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1986574"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1986573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1986573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1986573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}