6/1, 11:20 AM (Source: TeleTrader)
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Europe extends gains after upbeat inflation report

European markets responded positively to the preliminary inflation figures for May, which showed it slowing down from 7% in April to 6.1%, with core inflation down to 5.3%. Meanwhile, unemployment stood at 6.5% in April, 0.2 percentage points lower than the same month in 2022.

The DAX improved by 1.11% at 11:17 am CET or over 170 points. The FTSE 100 added 0.54% a minute later, while the CAC 40 was up by 0.81%, and the Euro Stoxx 50 increased by 1.02% at the same time.

The euro traded flat against the dollar at 11:19 am CET, going for 1.06911, while the pound traded 0.07% lower and sold for 1.24302.

Baha Breaking News (BBN) / DJ