Investors buoyed by report showing euro zone inflation eased further in July
“The news in Europe is a bit more mixed the preliminary data in Italy coming in much weaker than expected, although the euro zone is not doing too badly,” said Andrea Cicione, head of research at TS Lombard.
The strong earnings environment for banks as evidenced by the results buoyed AIB shares also, which rose by 2.4 per cent to €4.27. Permanent TSB also rose by 1.8 per cent to €2.28. Ryanair and Smurfit Kappa were both down, however, despite stronger growth numbers for the euro zone.Healthcare stocks led gains, with Novo Nordisk up 3.4 per cent as it launched its blockbuster weight-loss drug Wegovy in Germany. The German DAX ended 0.
The exporter-heavy FTSE 100 closed up 0.1 per cent, logging a monthly gain of over 2 per cent in July as risk sentiment flourished after data earlier this month showed domestic inflation eased more than expected. Telecom company BT Group slipped 1.7 per cent after naming Allison Kirkby, a board member and president and CEO of Sweden’s Telia Company, as its next chief executive.Wall Street rose on Monday with key benchmarks set to end July higher on upbeat company earnings and hopes of a soft landing for a resilient US economy, while cooling inflation fuels bets on a rate-hike pause.
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