LONDON – European stocks were lower on Friday afternoon as investors digested key inflation data from the euro zone and looked ahead to domestic price data in the United States.
Pan-European Stoke 600 The index was down 0.12% as of 1:55 pm London time, with most sectors and major exchanges trading in the green. Oil and gas stocks rose 0.85%, while household products stocks fell 0.84%.
Inflation eased slightly in France in June, providing an economic boost to President Emmanuel Macron, two days before the first phase of parliamentary elections on Sunday. Insee statistics agency show Consumer prices increased 2.5% year-on-year in June, after rising 2.6% the previous month.
Spanish inflation is also dropped to 3.5% The annual increase in June was higher than the previous month’s 3.8%. Inflation rises slightly in Italy up 0.8% Starting in June 2023.
Revised data from the Office for National Statistics showed that the UK economy grew by 0.7% in the first three months of this year, exceeding initial estimates.
Asia-Pacific markets rose on Friday as investors assessed key economic data from Japan. Data from the London Stock Exchange showed that the yen-dollar exchange rate broke through the 161 mark for the first time since 1986 and hit a high of 161.27.
Meanwhile, U.S. stock futures were mixed on Friday morning ahead of the release of the May core personal consumption expenditures price index, the Fed’s preferred inflation gauge.
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