Positive Economic News from China and UK Inflation Data
Asian markets, particularly in Hong Kong, also saw a boost following encouraging economic data from China, including better-than-expected retail sales and industrial data. In the UK, the FTSE 100’s rise was bolstered by the latest inflation data, which showed a significant drop in the consumer price index, falling to a two-year low.
FTSE 100 Performance and UK Inflation Outlook
Despite volatility throughout the year, the FTSE 100 has managed to enter positive territory for the year, aided by the recent decline in UK inflation. Core CPI also fell, potentially influencing the Bank of England’s future interest rate decisions. Investors are increasingly optimistic about a potential ‘Santa Rally’ as the year draws to a close.
DAX and STOXX: Key Movers
In company news, Siemens Energy’s shares soared by over 7% after securing significant state guarantees from the German government. Conversely, Alstom’s shares dropped sharply due to job cuts and asset sales as part of its strategy to strengthen its balance sheet. These movements among leading companies reflect the diverse responses to the current economic environment in Europe.