Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Europe midday: Shares rally despite rise in May EZ inflation
(Sharecast News) - European shares rallied on Friday as investors digested higher-than-expected flash eurozone inflation data and awaited a key CPI measure from the US.
The regional Stoxx 600 index was up 0.14% to 517.3. Major regional bourses were lower with the exception of Britain's FTSE 100, which gained 0.44% to 8,267.71.
Eurozone inflation rose in May, according to official data published on Friday, as prices stubbornly refused to shift and indicating a tougher path ahead for the European Central Bank's monetary policy, although the rate cut pencilled in for next month was likely to go ahead.
The annual inflation rate across the eurozone is expected to be 2.6% in May, statistics body Eurostat said in a flash estimate, up from 2.4% in April and March, driven by rising prices in the services sector.
Economists had expected a smaller rise in inflation, to 2.5%, as investors expect an interest rate cut by the ECB next week.
Underlying inflation, which excludes volatile items such as food, energy, alcohol and tobacco came in at 2.9% from 2.7% in April.
Services inflation rose to 4.1% in May, up from 3.7% in April, while food, alcohol & tobacco inflation slowed to 2.6% from 2.8% in April.
"With both headline and core inflation on the rise, the justification for three rate cuts this year will likely come under pressure as we await (ECB chief Christine) Lagarde's assessment on Thursday," said Scope Markets analyst Joshua Mahony.
In equity news, Telecom Italia shares fell 4% as US investment firm KKR won unconditional EU antitrust approval on Thursday for its up to €22bn acquisition of TIM's fixed-line network.
Shares in JD Sports Fashion slumped as the company held guidance amid "volatile" trading conditions as annual profits fell but revealed that first-quarter like-for-like sales were down 0.7%, reflecting the woes of its major supplier Nike.
Flutter Entertainment fell as its finance chief left with immediate effect as the company moved its listing to the US.
Reporting by Frank Prenesti for Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
