⚠️BREAKING: *EUROPEAN STOCKS RISE ACROSS THE REGION TO END THE WEEK *EUROPE'S STOXX 600 INDEX POSTS GAINS OF 8.8% FOR THE FIRST HALF 🇪🇺🇩🇪🇫🇷🇮🇹🇪🇸🇳🇱🇬🇧
- European shares rose on Friday as lacklustre data on China's factory activity spurred hopes of more policy stimulus, but ended the quarter on a sombre note as worries about further monetary policy tightening and weak Chinese demand capped gains.The index climbed 0.9% by the end of the second quarter, with mounting evidence of China's weak post-COVID recovery and concerns about higher-for-longer global interest rates, having stalled a rally in equities that began early this year.
"We think headline inflation will fall further, and that the core will ease back, albeit remain sticky," said Melanie Debono, senior Europe economist at Pantheon Macroeconomics. In the U.S., the core Personal Consumption Expenditures Price Index rose 0.3% in May from April, but is unlikely to challenge the Fed's commitment to its current hawkish stance after a robust data this week that signalled economic resilience.
On Friday, miners and energy stocks added 0.8% and 1.2%, respectively, tracking commodity prices higher as a decline in China's factory activity boosted expectations of more economic stimulus from the country.
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