European markets close lower as UK inflation misses estimate
Publishing timestamp: 2024-05-22 12:10:39
Summary
European stocks closed lower on Wednesday due to concerns over inflation outlook and interest rates. Mining stocks dropped after Anglo American rejected a takeover bid from BHP Group. Shares in Marks & Spencer climbed after reporting a rise in profit. Auto stocks led the market lower after concerns over tariffs. Traders slashed bets on Bank of England lowering interest rates after U.K. inflation figures came in higher than expected. British pound rose on the news. European markets opened lower following the release of U.K. inflation data. Six AI-related stocks have reacted positively to Nvidia's quarterly results in the past. Morgan Stanley Investment Management's Andrew Slimmon remains bullish on stocks.
Sentiment: MIXED
Tickers: AAL-GB, .FTMIB, .FTSE, BHP-AU, .STOXX, NVDA, .FCHI, GBP=, .GDAXI,
Keywords: prices, united states, business news, breaking news: europe, nvidia corp, stoxx 600,
Source: https://www.cnbc.com/2024/05/22/european-markets-live-updates-stocks-news-uk-inflation-data.html