LONDON – European markets ended higher on Wednesday, maintaining positive momentum after an unexpected rise in euro zone inflation.
this Stoke 600 The index initially closed 0.79% higher, with technology stocks rising 2.62%. Dutch chip company ASML led the gains, with shares rising as much as 10%, but gains eased after Reuters reported that the company may be exempt from expanded restrictions on exports of chip manufacturing equipment to China.
The European Union’s statistics agency said on Wednesday that overall price growth in the 20 euro zone countries rose to 2.6% in July from 2.5% in June. Economists polled by Reuters expected interest rates to remain steady.
On Tuesday, the euro zone’s second-quarter gross domestic product was 0.3%, slightly higher than expected.
Corporate profits also remain the focus. HSBC’s first-half pre-tax profit fell slightly, but still exceeded analysts’ expectations. It announced a US$3 billion stock buyback, and the bank’s stock price rose.
sportswear giant Adidas While declines in the Kanye West-founded Yeezy line dragged down performance in North America, the company edged higher on the day after European sales rose 19% in the quarter before retreating to close down 2%. Deutsche Bank research analyst Adam Cochrane said the main new detail compared with Adidas’ previous deal announcement was a regional breakdown, which showed growth in China of an “impressive” 9%.
In the United States, the Federal Reserve is expected to keep interest rates steady on Thursday. More important is any forward guidance it chooses to provide, with markets currently pricing in a 100% chance of a rate cut in September.
In Asia, all eyes were on the Bank of Japan, which raised its benchmark interest rate to 0.25% from the previous range of 0% to 0.1% and outlined plans to taper its bond-buying program.
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