Thursday, 25 July 2024

European stocks decline as investors await inflation surveys


European stocks fell today, as investors awaited the results of inflation surveys to clarify the path of the European Central Bank’s monetary policy.

There was no significant change in the European STOXX 600 index as of 07:16 GMT, while the German DAX index rose 0.2% after a report showed that wholesale prices in Germany for the month of April declined by 1.8% on an annual basis, according to “Reuters.”

Later today, attention will turn to the European Central Bank, which is scheduled to publish the results of surveys on inflation expectations. Declining expectations would enhance the market’s bets on a rate cut next week, a possibility supported by 91% of traders.

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Norwegian company Cadler’s shares fell 2.3% after first-quarter results showed losses. Meanwhile, Symrise, a German flavor and perfume company, rose nearly 3% to lead gains on the STOXX 600 index, after Deutsche Bank raised its recommendation for the stock to “buy.”