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European stocks higher as investors digest fresh inflation data

WorldEuropean stocks higher as investors digest fresh inflation data

LONDON — European stocks were higher Friday as investors digested key inflation data from the euro zone.

The pan-European Stoxx 600 was up 0.33% by 11:40 a.m. London time, with the majority of sectors and major bourses trading in the green. Autos rose 0.94%, while household goods dipped 0.41%.

French inflation slowed slightly in June, providing an economic boost for President Emmanuel Macron two days before the first stage of parliamentary elections on Sunday. The Insee statistics agency showed consumer prices rose 2.5% from a year ago in June, versus 2.6% the previous month.

Spanish inflation also dipped to 3.5% year on year in June, from 3.8% the month prior. Italian inflation ticked up slightly, rising 0.8% from June 2023.

Asia-Pacific markets climbed on Friday as investors assessed key economic data out of Japan. The Japanese yen weakened to fresh 38-year lows following the release, crossing the 161 mark against the dollar for the first time since 1986 and reaching a high of 161.27, according to LSEG data.

Meanwhile, U.S. stock futures were mixed ahead of the release of May’s core personal consumption expenditures price index, the U.S. Federal Reserve’s preferred inflation gauge, Friday morning. 

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