European stocks higher; Fed speakers soothe nerves, BMW gains
Investing.com - European stock markets rose Tuesday, with investors returning their focus to potential central bank moves while keeping an eye on the conflict in the Middle East.
Fed Vice Chair Philip Jefferson said the central bank could"proceed carefully" in deciding whether any further increases are warranted, while Dallas Fed President Lorie Logan indicated rising Treasury yields could steer the Fed from further rate increases.This is expected to show an annual fall of 5.0%, a deterioration from the previous month’s 2.
However, there was some good news on the inflation front as data from market researcher Kantar indicated that British grocery inflation eased to its lowest rate for 15 months heading into October. That said, annual grocery inflation was still 11% in the four weeks to Oct. 1, down from 12.2% in its September report.) stock rose 2% after the German carmaker announced that group sales of its battery-electric vehicles surged by just under 80% year-on-year in the third quarter of 2023.
Both benchmarks surged more than 4% on Monday after Hamas launched the largest military assault on Israel in decades over the weekend, prompting severe retaliation from Israel with a wave of air strikes on Gaza. Traders fretted that the conflict could escalate, hitting Middle East supply and worsen an expected deficit for the rest of the year.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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