stocks, news, data and Riksbank decision
A photo shows the bell during a bell ceremony of the Euronext Brussels Stock Exchange in Brussels on March 18, 2024.
Nicolas Maeterlinck | Afp | Getty Images
LONDON — European stocks closed lower Thursday as investors faced global inflation worries.
The pan-European Stoxx 600 ended the session 0.4% lower, with most sectors and major bourses trading in the red. Media stocks rose 0.45%, while retail shed 1.86%.
H&M plunged 13% after it reported a smaller-than-expected rise in second-quarter profits and cast doubt over its full-year profit margin target.
Sweden’s Riksbank kept borrowing costs unchanged Thursday but signalled that it expects to resume easing again, with up to three cuts in the second half of the year. Turkey’s central bank also left interest rates unchanged at 50.00%.
Global market attention is shifting toward fresh U.S. inflation data on Friday, with May’s personal consumption expenditures price index, the U.S. Federal Reserve’s preferred inflation gauge, due to be released. Investors hope the report will show easing pricing pressures that could cement the likelihood the Fed will lower interest rates later this year.
