The German DAX index fell
European stocks erased all their gains recorded in early trading Thursday after inflation in the United States rose more than expected in September.
The European STOXX 600 index rose 0.1 percent after earlier recording a three-week high.
Consumer prices (inflation) in the United States rose 0.4 percent on a monthly basis in September, compared with expectations of economists polled by Reuters for a rise of 0.3 percent. On an annual basis, the CPI rose 3.7 percent versus estimates of 3.6 percent.
Shares of energy companies rose 1.3 percent, leading sector gains, after oil prices rose thanks to expectations that US interest rates had reached their peak.
Interest rate-sensitive utility and real estate stocks fell 0.7 percent and about 1 percent, respectively.
The minutes of the European Central Bank’s September meeting, released Thursday, showed division among policymakers when they chose to raise the deposit rate to an unprecedented level of four percent, but it signaled the end of the tightening cycle.
Shares of media companies jumped 0.9 percent to their highest levels in 22 years.
#European stocks
#European stocks
2023-10-12 17:16:21
#European #stocks #erase #gains #inflation #data
