Berliner Boersenzeitung - Stocks rise on more positive inflation data

EUR -
AED 4.013039
AFN 74.016635
ALL 98.779344
AMD 422.891897
ANG 1.971876
AOA 996.985912
ARS 1066.065562
AUD 1.622492
AWG 1.967201
AZN 1.85641
BAM 1.956706
BBD 2.209124
BDT 130.740523
BGN 1.95421
BHD 0.412412
BIF 3227.668024
BMD 1.092586
BND 1.429101
BOB 7.587686
BRL 6.131699
BSD 1.094157
BTN 91.949324
BWP 14.520187
BYN 3.580621
BYR 21414.681406
BZD 2.205422
CAD 1.505572
CDF 3144.462069
CHF 0.937805
CLF 0.036835
CLP 1016.388847
CNY 7.731164
CNH 7.739266
COP 4585.374953
CRC 565.177154
CUC 1.092586
CUP 28.953523
CVE 110.318594
CZK 25.311907
DJF 194.829107
DKK 7.461492
DOP 65.872303
DZD 145.629414
EGP 53.130151
ERN 16.388787
ETB 131.020349
FJD 2.426417
FKP 0.836013
GBP 0.836904
GEL 2.966389
GGP 0.836013
GHS 17.45648
GIP 0.836013
GMD 74.84253
GNF 9439.845142
GTQ 8.459839
GYD 228.901202
HKD 8.490899
HNL 27.214595
HRK 7.526856
HTG 144.152009
HUF 401.527485
IDR 17056.192818
ILS 4.107669
IMP 0.836013
INR 91.872971
IQD 1433.276619
IRR 46000.59596
ISK 149.520249
JEP 0.836013
JMD 173.215735
JOD 0.7741
JPY 163.099567
KES 141.129344
KGS 93.416792
KHR 4445.220548
KMF 491.128399
KPW 983.326961
KRW 1482.027383
KWD 0.33491
KYD 0.91173
KZT 529.730074
LAK 23990.984362
LBP 97977.740167
LKR 320.259981
LRD 211.158717
LSL 19.118951
LTL 3.226122
LVL 0.660894
LYD 5.237664
MAD 10.729012
MDL 19.310646
MGA 5027.488405
MKD 61.639098
MMK 3548.676014
MNT 3712.606531
MOP 8.756934
MRU 43.314241
MUR 50.356131
MVR 16.770943
MWK 1897.239057
MXN 21.094879
MYR 4.694837
MZN 69.82387
NAD 19.118425
NGN 1771.212787
NIO 40.260664
NOK 11.728155
NPR 147.125494
NZD 1.793556
OMR 0.421164
PAB 1.094106
PEN 4.075487
PGK 4.30313
PHP 62.65106
PKR 303.710815
PLN 4.294898
PYG 8539.343868
QAR 3.98871
RON 4.974327
RSD 117.100496
RUB 105.212113
RWF 1473.229189
SAR 4.102983
SBD 9.067726
SCR 14.901348
SDG 657.187098
SEK 11.349257
SGD 1.42748
SHP 0.836013
SLE 24.962638
SLL 22910.974145
SOS 625.309503
SRD 34.904289
STD 22614.319849
SVC 9.573519
SYP 2745.154858
SZL 19.11246
THB 36.319721
TJS 11.662752
TMT 3.834976
TND 3.368028
TOP 2.558949
TRY 37.455371
TTD 7.426506
TWD 35.16651
TZS 2973.46564
UAH 45.0538
UGX 4020.953408
USD 1.092586
UYU 45.751179
UZS 13969.594742
VEF 3957949.408228
VES 42.432592
VND 27145.293854
VUV 129.714012
WST 3.060534
XAF 656.281833
XAG 0.03501
XAU 0.000412
XCD 2.952768
XDR 0.813903
XOF 656.290848
XPF 119.331742
YER 273.528959
ZAR 19.081901
ZMK 9834.584101
ZMW 28.911707
ZWL 351.812177
  • SCS

    0.3100

    12.91

    +2.4%

  • NGG

    0.5600

    66.24

    +0.85%

  • GSK

    -0.3800

    38.83

    -0.98%

  • RYCEF

    0.0100

    7.01

    +0.14%

  • CMSC

    0.1200

    24.71

    +0.49%

  • CMSD

    0.1800

    24.95

    +0.72%

  • RBGPF

    1.7400

    61.23

    +2.84%

  • BTI

    0.0700

    35.18

    +0.2%

  • AZN

    0.4800

    77.35

    +0.62%

  • BCE

    0.1600

    33.02

    +0.48%

  • BCC

    3.4200

    142.37

    +2.4%

  • RELX

    0.4700

    46.83

    +1%

  • BP

    -0.2300

    32.11

    -0.72%

  • RIO

    0.3900

    67.23

    +0.58%

  • JRI

    0.0300

    13.25

    +0.23%

  • VOD

    -0.0900

    9.65

    -0.93%

Stocks rise on more positive inflation data
Stocks rise on more positive inflation data / Photo: ANGELA WEISS - AFP/File

Stocks rise on more positive inflation data

Stock markets were mostly higher on Thursday after new US data suggested that inflation could indeed be slowing in the world's biggest economy, raising hopes of less aggressive Federal Reserve monetary policy.

Text size:

The US producer price index (PPI) rose by 9.8 percent year-on-year in July, the Labor Department calculated, down from 11.3 percent in June. And on a monthly basis, the index actually fell for the first time in over a year.

Coming after better-than-expected consumer price data the day before, the PPI numbers cheered investors as they suggested that the Fed could begin taking its foot off the pedal somewhat when it comes to raising interest rates to dampen inflation, traders said.

Wall Street was higher on the news, while European markets, which had been in the red earlier in the session, were mostly able to end the day in positive territory.

"The key takeaway from the report is the moderation seen in the year-over-year inflation readings. That follows on the heels of the pleasing CPI data and it fits neatly within the supportive peak inflation narrative that has been a boon for investor sentiment," said Patrick O'Hare, analyst at Briefing.com.

Nevertheless, leading Fed officials have already sought to temper expectations that the monetary policy tightening cycle could be coming to a complete halt.

The head of the Minneapolis Federal Reserve Bank, Neel Kashkari, warned: "We are a long way away from saying that we're anywhere close to declaring victory".

The chief of the Chicago Federal Reserve Bank, Charles Evans, said rates will continue to rise for "the rest of this year and into next year".

"Investors are certainly in a more upbeat mood as the relief from the US inflation data ripples through the markets," said OANDA analyst Craig Erlam.

However, "Fed policymakers remain keen to stress that the tightening cycle is far from done and a policy U-turn early next year is highly unlikely," Erlam said.

- Half-point rise?-

After the Fed already raised interest rates by three-quarters of a percentage point twice this year, the financial markets fear that a further hike of the same magnitude could choke off economic recovery.

"Though the probability of another 75-basis-point hike in September has fallen sharply, the debate about a hike of 50 or 75 basis points will continue, and the Fed will be keen to keep that debate going, until we get the next consumer price inflation and employment reports," said Forex.com analyst Fawad Razaqzada.

Investors will therefore be listening out for further comments from policymakers over the next weeks to better gauge the likely pace of further rate hikes, traders said.

On the oil market, crude prices climbed as US recession fears eased -- but remained around six-month lows and below the levels seen before the Ukraine war.

- Key figures at around 1535 GMT -

New York - Dow: UP 0.5 percent at 33,460.13 points

London - FTSE 100: DOWN 0.5 percent at 7,465.91 (close)

Frankfurt - DAX: DOWN 0.1 percent at 13,694.51 (close)

Paris - CAC 40: UP 0.3 percent at 6,544.67 (close)

EURO STOXX 50: UP 0.2 percent at 3,757.05

Hong Kong - Hang Seng Index: UP 2.4 percent at 20,082.43 (close)

Shanghai - Composite: UP 1.6 percent at 3,281.67 (close)

Tokyo - Nikkei 225: Closed for a holiday

Euro/dollar: UP at $1.0335 from $1.0299 Wednesday

Pound/dollar: DOWN at $1.2214 from $1.2213

Euro/pound: UP at 84.59 pence from 84.29 pence

Dollar/yen: DOWN at 132.67 yen from 132.89 yen

Brent North Sea crude: UP 1.3 percent at $98.64 per barrel

West Texas Intermediate: UP 1.4 percent at $93.17 per barrel

(Y.Yildiz--BBZ)