UK, Germany lift European shares on inflation – TradingView News

UK, Germany lift European shares on inflation – TradingView News

European shares gained on Wednesday as bets on interest rate cuts increased following soft inflation data from the United Kingdom and Germany, while rising commodity prices lifted resource stocks.

Pan-European STOXX 600 Index SXXB Up 0.3% by 0818 GMT, with the energy and telecoms sectors leading the gains.

Data showed German producer prices fell more than expected in November, while British inflation fell more than expected last month and the headline rate fell to a lower level in September 2021, strengthening the case for a rate cut.

German DAX DAX The UK’s FTSE 100 rose 0.2% UK100 Up 1.3%.

Energy stocks ( .SXEP ) rose 1.1%, while basic resource stocks ( .SXPP ) rose 0.4% on higher prices for most commodities.

Telefonica TEF rose 6.3% as the Spanish government is expected to buy about a 10% stake in the telecom company. The broader sector (.SXKP) rose 1%.

The Deutsche Post DHL US firm FedEx then lost 1.3% FDX It cut its revenue forecast for the full year and posted a lower-than-expected quarterly profit.

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