European stocks rose early in the first session of the week as risk appetite improved in the markets despite economic data suggesting inflation in the region is picking up and calls from members of the European Central Council to raise interest rates. rates.
Data from the German Statistical Office showed that import prices in Germany rose by 31.7% in April compared to the same period last year, the highest since September 1974.
Consumer prices in Spain rose in May to 8.7% yoy, higher than expected 8.4%, while markets await the publication of a preliminary value of the consumer price index in Germany, which is expected to rise by 0.5% yoy. monthly in May.
In turn, a member of the European Central Council, Philip Lane, called for “raising interest rates by 25 basis points twice during the July and September meetings in order to get out of negative interest rates by the end of September.”
The Stoxx Europe 600 rose 0.66% to 446 points at 1021 Beirut time in early trading, while the UK FTSE rose 0.39% to 7615 points.
The German DAX index rose 0.63% to 14,553 points, while the French CAC index rose 0.56% to 6552 points.
Source: El Iktisad
