Euro markets moved higher on Tuesday (18/6), after a mixed day at the start of the week.
The pan-European Stoxx 600 closed 0.66% higher at 514.84, with most sectors and all major bourses in the green. Construction shares led the gains, rising 1.3%.
In terms of major European indices, Germany’s DAX rose 0.31% to 18,123.58, Britain’s FTSE 100 gained 0.60% to 8,191.29 and France’s CAC 40 gained 0.76% to 7,628. Regionally, Italy’s FTSE MIB rose 1.23% to 33,313.04, Spain’s IBEX 35 gained 0.99% to 11,067.70 and Portugal’s PSI gained 0.78% to 6,570.95.
Financial services firm Hargreaves Lansdown was among the top gainers, closing 5.26% higher, after its board said it would “unanimously recommend” approval of the sale to a private equity consortium led by CVC. The £11.4 per share deal is higher than a previously rejected offer from Hargreaves Lansdown and values the company at around £5 billion.
Inflation in the euro area rose at an annual rate of 2.6% in Mayfrom 2.4% in April, according to Eurostat. Annual inflation in the wider EU was at 2.7%, up from 2.6% last month.
Investors are closely watching the latest inflation data for an indication of how the European Central Bank, which last month cut interest rates for the first time since 2019, might act next.
On Thursday, the Bank of England’s interest rate decision is expected. The Bank is expected to keep interest rates steady at 5.25%, with most economists polled by Reuters predicting a cut in August.