(CercleFinance.com) – European stock markets are gaining ground (+0.4% in London and Frankfurt, +1% in Paris) this Wednesday, against a backdrop of reassuring data on the inflation front in the region, Paris benefiting as a bonus from a solid publication from its heavyweight LVMH.
In the United Kingdom, the consumer price index increased by 3.2% year-on-year in March, compared to 3.4% in February, and on an underlying basis, the annual inflation rate rose from 4.5% to 4.2% month over month.
‘If the downward trend persists, the Bank of England’s monetary policy committee could consider a rate cut as early as June, possibly followed by two more in the second half of 2024’, reacts at ADSS.
Concerning the euro zone, the annual inflation rate stood at 2.4% in March, compared to 2.6% in February, according to Eurostat which therefore confirms its rapid estimate for last month, while that of The EU went from 2.8% to 2.6% month on month.
In stock news, LVMH climbs 4% in Paris, the day after a quarterly activity update that Oddo BHF considers ‘rather reassuring, even if it is confirmed that the growth of the fashion and leather goods at this stage are showing a bit of a blow.
Adidas, for its part, raised its annual forecasts following the announcement of a much better than expected first quarter on Tuesday evening, which caused the stock of the sporting goods supplier to jump 6% in Frankfurt.
On the other hand, ASML lost almost 5% in Amsterdam, after the publication by the equipment manufacturer for the semiconductor industry of EPS down 40% sequentially in the first quarter of 2024, on revenues down 27%.
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