Closing post
Time to recap…..
Euro zone inflation rose in May, in a sign that the goal of fully controlling price rises remains in the distances.
Consumer prices jumped by 2.6% this month, on an annual basis; despite this, the European Central Bank is still forecast to cut interest rates next week.
Inflationary pressure in the US remained unchanged in April, according to the latest PCE index, which also showed a small slowdown in monthly core inflation.
UK house prices returned to growth in May, with average prices rising 0.4% in May despite the drag from high mortgage rates, Nationwide reported.
But, the number of mortgages being approved has dropped, Bank of England data for April showed.
And in other news…
European market close
In the City, the blue-chip FTSE 100 index has ended the day 46points higher, or 0.55%, at 8277 points. That still means it lost ground this week, for the third week in a row.
Europe’s markets also rose today, despite this morning’s pick-up in inflation, with the Stoxx 600 index finishing 0.3% higher.
