Most European stock exchanges are continuing with a positive sign in Wednesday’s trading, continuing the records, with investors turning their attention to the latest data on inflation, which showed a new jump in prices in October.
Annual inflation jumped to 4.1% in October, following a 3.4% rise in September, according to Eurostat data. A year ago, the percentage was -0.3%.
The highest contribution to the annual inflation rate came from energy (2.2%), services (0.86%), and non-energy industrial goods (0.55%)
The figures come in the wake of reassuring statements by the president of the European Central Bank to the European Parliament on Monday about price developments next year. Christine Lagarde reiterated that the central bank expects inflation to slow next year, adding that it does not expect an increase in European interest rates in 2022.
On the board, the pan-European STOXX 600 index recorded small gains of 0.1% at 489.74 points after yesterday’s record high.
The German DAX gains 0.1% to 16,267.52 points, while the French CAC 40 gains 0.05% to 7,156.00 points. Both indicators set new records yesterday.
The British FTSE 100 is down 0.4% at 7,299.75 points after the data showed a new jump in inflation in October to the highest level since December 2011.
In particular, the consumer price index rose 4.2% year-on-year in October, following a 3.1% rise in September, according to the ONS statistical service. Economists expected a rise of 4%.
In the periphery, the Italian FTSE MIB gained 0.1%, while the Spanish IBEX 35 fell 0.2%.
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