Stock Markets in Western Europe Rise in Anticipation of Eurozone Inflation Data

Stock markets in leading European countries are showing growth ahead of the publication of inflation statistics in the eurozone, expecting a slowdown in price increases

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Market quotes, illustrative photo / pixabay.com

On Monday, ahead of the release of important inflation data for the eurozone for February, there is a rise in stock indexes in leading Western European countries.

At 12:00, the statistical agency of the European Union is expected to present a report indicating a slowdown in price growth to 2.6% compared to 2.8% in January, according to Trading Economics forecasts, reports "Interfax-Ukraine".

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Moreover, the Stoxx Europe 600 index, covering the continent's largest companies, increased by 0.07%, reaching a mark of 505.15 points by 11:50. The United Kingdom, Germany, France, Italy, and Spain also registered an increase in their main stock indicators.

The markets are closely monitoring the upcoming meetings of the central banks of the USA, the United Kingdom, and Japan this week.

The Federal Reserve and the Bank of England are expected to keep key interest rates at the current level, while the Bank of Japan may abandon its negative interest rate policy.

Shares of British Haleon, a health and personal hygiene products manufacturer, lost 1.9% in value after news of Pfizer Inc. selling 630 million of its shares.

At the same time, shares of Currys, a British retailer of household appliances, rose by 3.5% thanks to an improvement in profit forecast against better-than-expected sales. Alstom, WordLine, and Stellantis NV in France, as well as Vonovia, Porsche AG, and Volkswagen AG in Germany showed a noticeable increase in the value of their shares.

Previously, Janet Yellen expressed doubts about whether US interest rates could return to pre-pandemic levels, pointing to ongoing inflation and an increase in bond yields as major obstacles.

Also, the value of gold and silver continues to rise, with gold approaching a historical maximum, increasing by 0.5%, and silver reaching its highest price in the last month, rising by 2.6%. This increase in prices for precious metals is happening against the backdrop of a declining dollar value and rising inflation expectations.

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