The European markets lost the positive sign

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Most European stock exchanges continue with a negative sign in Wednesday’s trading, despite the upward start after yesterday rally of Wall Street indicatorscautiously returning to the aftermath of data released today in the UK and showing a new jump in inflation to a four-decade high.

The central banks’ battle with inflation has been at the center of investment attention amid speculation about the resilience of economies in the context of tightening monetary policy after years of zero interest rates.

THE Federal Reserve chairman Jerome Powell said yesterday that “what we need to see is that inflation fall in a clear and convincing way,” adding that the US Federal Reserve will continue to push until it sees this decline in inflation. The Fed raised interest rates by 50 basis points in its last session, the largest increase in 20 years, and has planned two more increases of 50 basis points. every time in the summer.

Meanwhile, data released today in the UK showed annual inflation jumping to a 40-year high of 9% in April from 7% in March. The country’s central bank carried out its fourth consecutive rate hike in May, pushing its interest rate to 1%, while markets are expecting further increases in the coming months despite the risk of the British economy slipping into recession.

On the board, the pan-European Stoxx 600 index lost 0.1% to 438.62 points.

The German DAX is down 0.05% at 14,179.04 points, the French CAC 40 is down 0.1% at 6,422.59 points, while the British FTSE 100 is also down 0.1% at 7,513.08 points.

In the periphery, the Italian FTSE MIB strengthened marginally 0.01%, while the Spanish IBEX 35 gained 0.4%.


Source: Capital

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