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Overview of Bishopsgate in the City of London, the capital’s financial district. The UK economy is said to have seen faster growth than initially estimated by early 2024.
Vuk Valcic | Sopa Images | Lightrocket | Getty Images
LONDON — European stocks are set to open higher on Thursday as global markets await the next U.S. inflation reading.
The United Kingdom New York Stock Exchange The index is expected to open 20 points higher at 8,210, DAX rose 37 points to 18,451, France CAC40 rose 7 points to 7,585 and Italy FTSE MIB rose 45 points to 34,512, according to IG data.
Thursday’s inflation report could cement expectations that the U.S. Federal Reserve will cut interest rates in the coming months. Recent economic releases have suggested that inflation and economic growth are both cooling, including last week’s report that unemployment in June rose to 4.1%.
The June consumer price index report will be released at 8:30 a.m. ET.
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On the data front, UK gross domestic product figures for May are expected. No major gains.