Shares surged globally on Tuesday after the October US consumer price index came in cooler than expected, fuelling bets that the US Federal Reserve and other central banks may have reached the peak of the current rate hiking cycle.
Shares surged globally on Tuesday after the October US consumer price index came in cooler than expected, fuelling bets that the US Federal Reserve and other central banks may have reached the peak of the current rate hiking cycle . The data showed US inflation remained unchanged in October amid lower gasoline prices, while underlying price pressures also showed signs of slowing. Euronext Dublin was a sea of green after the latest US inflation release.
Investors were also optimistic that UK inflation data for September which is due this week will come in below the Bank of England’s forecasts. The Iseq index moved 2.3 per cent higher on the session, with all the big names notching gains, including Flutter Entertainment. The Paddy Power owner, which has a significant and growing presence in the US, gained 3.5 per cent to finish at €146.90 per share on data showing an easing of price pressures on the American consumer across most categories of goods and service
Shares Global US Inflation October Federal Reserve Central Banks Rate Hiking Cycle Euronext Dublin UK Inflation Bank Of England Iseq Index Flutter Entertainment Paddy Power Price Pressures Goods Services