European market calms ahead of US inflation data, BoE rate hike

MG News | May 10, 2023 at 04:42 PM GMT+05:00

0:00

May 10, 2023 (MLN): European markets observed limited activity as investors anticipate the upcoming U.S. inflation data and its potential impact on the monetary policy of the U.S. Federal Reserve.

European Stoxx 600 inched down by 0.23% in the morning session, while European Stoxx 50 fell by 0.26%.

The media stocks saw the biggest decline, falling 0.8% drop.

On the other hand, oil and gas gained 0.6%.

Market participants are closely monitoring the upcoming U.S. inflation data, which is due at 05:30pm Pakistan standard time today.

Additionally, markets are also looking out for an interest rate decision by the Bank of England BoE on Thursday, which is expected to be the 12th consecutive hike by the central bank.

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KSE30	40,814.29 132.59M	0.33% 132.52
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Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,140.00	119,450.00 115,635.00	4270.00 3.75%
BRENT CRUDE	70.63	70.71 68.55	1.99 2.90%
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ROTTERDAM COAL MONTHLY	108.75	108.75 108.75	0.40 0.37%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
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