On Wall Street, the Nasdaq hit its highest level in more than eight months on Wednesday, lifted by a slightly lower-than-expected rise in inflation figures for April that revived hopes that the Federal Reserve would end its cycle. rate hike in June.
And the US annual inflation rate continued to fall for the tenth consecutive month last April, registering 4.9%, its lowest level since May 2021, so the figures are better than analysts’ estimates, which were counting on a stabilization at 5%. percent, unchanged from March.
Despite the positive market situation, caution remains in order pending the outcome of meetings between the White House and Republican members of Congress on the US public debt ceiling, which have so far been at an impasse, threatening the United States of default. At the beginning of June.
stock movements
The pan-European STOXX 600 index rose 0.5% at 0822 GMT, after two consecutive days of losses.
ING Group rose 2.9% after the largest Dutch bank reported better-than-expected first-quarter profits and announced a new share buyback program worth up to €1.5 billion ($1.65 billion).
Meanwhile, Bayer shares fell 5% as the German group said its results are likely to be at the lower end of its 2023 target range, hurt by cost and energy inflation. other factors.
Mining and auto stocks led the declines among European sectors, following the trading of shares of many companies, including Volkswagen, past cash dividend deadlines.
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