Despite the rally, trading remained cautious as data showed the UK unemployment rate unexpectedly rose to 3.9% in March while inflation-fueled wage growth held steady. strong.
On Monday, the European Commission raised its estimate of gross domestic product for this year and now expects growth of 1.1%, down from a previous estimate of 0.8%.
However, the Commission also raised its inflation forecast for the euro zone to 5.8% this year and 2.8% in 2024, expecting the European Central Bank to continue raising interest rates. interest, which could heighten concerns about growth.
And data from Germany’s ZEW institute on investor sentiment for May showed a more-than-expected contraction at -10.7 points, after showing optimism last month at 4.1 points.
Investors are awaiting an early estimate of Eurozone GDP and Italian inflation data for April, which will be released later today.
stock market performance
Telecom Italia shares fell 4.6% after a report said a state bank planned to cancel a 19.3 billion euro ($21 billion) bid to buy the network company fixed.
In Britain, Vodafone shares fell 3.9% after the group’s new chairwoman, Margherita Della Valle, said she would cut 11,000 jobs over three years to reduce employment, and put in guard against a fall in free cash flow of 1.5 billion euros this year.
Shares of the Swedish video game company fell 11.6%, the low of the STOXX 600 index, after the company lowered its adjusted profit before interest and tax for the full year.
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