Consumer price inflation in the eurozone rebounded for the first time in five months as governments in the currency union withdrew energy subsidies. Bond yields jumped to six-month highs. The benchmark indexes in Germany trimmed monthly gains and in France turned negative.
Stock market indexes rebounded, and bond market selloffs paused in Europe. The jobless rate in the European Union dropped to a record low, but the youth unemployment rate remained near its recent high. Spain's consumer price inflation accelerated for the third month in May.
The global bond market selloff dragged down stock market indexes in the Euro Area. The yield on the 10-year German Bund approached a six-month high. The Japanese yen approached a record low against the euro on the worry that the wide interest rate differential is likely to persist.
European markets advanced in thin trading, and investors looked ahead to the release of the eurozone's consumer price inflation data later in the week.
Germany's economic growth in the first quarter was confirmed at 0.2%, driven by a rebound in exports and investments. Poor weather and weak consumer demand negatively impacted the UK's retail sales.
European markets rebounded and semiconductor-related stocks advanced after Nvidia reported strong quarterly results. Private sector activities in the eurozone rose to a one-year high, driven by rising orders.
European Union passenger car sales rebounded in April after sales recovered in the four largest markets in the union, and battery-powered electric vehicle sales held their market share at 12%. Consumer price inflation in the UK slowed to nearly a three-year low.
Generali reported weaker-than-expected quarterly results. Saipem won three large construction contracts, and Kontron AG said it won a significant order for one of its advanced electronics products.
European markets halted a three-week rally after policymakers signaled enthusiasm about a rate cut that may be misplaced. Consumer price inflation in the eurozone was confirmed at 2.4% in April. France's jobless rate held steady at 7.5%, matching rates in the previous two quarters.
European markets hovered near record highs set in the previous session after rate-cut speculation extended week's gains. The price of copper reached a new 3-year high on the expectation of demand growth fueled by new data centers.
The Eurozone GDP in the first quarter rebounded after contracting in two previous quarters in a row; industrial production eased in March; and employment in the first quarter expanded at a slower pace.
European market indexes traded around the flatline, bond yields advanced, and the euro gained in international trading. Germany's consumer price inflation was confirmed at 2.2%, and UK wages rose faster than the inflation rate for the tenth month in a row.
