Stock prices ASV And European Shares rose on Thursday following the release of US inflation data, the British pound rose and the Japanese yen hit a multi-year low.
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Annual inflation in the United States fell to 8.2% in September from 8.3% in August, however, compared to the previous month, consumer prices rose 0.4% in September after the increase of 0.1% recorded in August. Analysts had expected a 0.2% increase.
The data is the latest sign that inflation is becoming more entrenched in the US economy, despite efforts by the Federal Reserve (FRS) to curb inflation.
Briefing.com analyst Patrick O’Hare said the inflation data was disappointing but not shocking in light of other recent economic reports.
The British pound rose against the US dollar and other currencies on the basis of media speculation that the government could cut its fiscal stimulus plans and raise corporate taxes.
The Japanese yen has fallen to its lowest level against the US dollar since 1990, reflecting the stark divergence between the monetary policies of US and Japanese central banks.
On Thursday, the Dow Jones Industrial Average rose 2.8% to 30,038.72 points, the Standard & Poor’s 500 Index rose 2.6% to 3,669.91 points, while the “Nasdaq Composite “increased 2.2% to 10,649.15 points.
London’s FTSE 100 was up 0.4% to 6,850.27 on Thursday, that of Frankfurt DAX 30 rose 1.5% to 12,355.58 points, while the Paris Stock Exchange’s CAC 40 index rose 1.0% to 5,879.19 points.
WTI crude oil was up 2.1% to $ 89.11 a barrel in e-commerce on the New York Stock Exchange on Thursday. The price of “Brent” crude on the London Stock Exchange rose 2.3% to $ 94.57 a barrel.
The euro rose from $ 0.9703 to $ 0.9780 per euro on Thursday, the British pound rose from $ 1.1100 to $ 1.1333 per pound on Thursday, and the dollar rose to 146.91 against the Japanese yen at 147.22 yen per dollar. The euro fell against the British pound from 87.41 to 86.28 pence per euro.
