European stocks rallied on Thursday, as fresh data pointed to inflation slowing more than expected in the eurozone, while the bill to raise the US debt ceiling took a significant step forward in Washington.
Europe’s region-wide Stoxx 600 and France’s Cac 40 both added 0.8 per cent while Germany’s Dax gained 1.1 per cent and London’s FTSE 100 advanced 0.4 per cent.
Traders grew more confident after official data showed that eurozone-wide inflation decelerated more than expected, falling to 6.1 per cent in May, its lowest level since Russia’s full-scale invasion of Ukraine more than a year ago. A consensus of economists’ forecasts gathered by Reuters expected inflation to fall to 6.3 per cent.
JPMorgan European Discovery Trust plc (LON:JEDT) is an investment trust company. The Investment Trust JEDT objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom.
