STOXX 600 Holds Near 660 as Brent Climbs to $89.45 Before US CPI
Updated
Updated · Yahoo Finance · Aug 12
STOXX 600 Holds Near 660 as Brent Climbs to $89.45 Before US CPI
3 articles · Updated · Yahoo Finance · Aug 12
Summary
The STOXX 600 was little changed at 660.17 points, staying near Monday’s record high as investors waited for U.S. July inflation data later Wednesday.
Brent crude rose 0.6% to $89.45 a barrel after Middle East shipping attacks and fading hopes for an end to the six-month Iran conflict, keeping energy-supply risks in focus.
That backdrop lifted Europe’s aerospace and defence index 0.9% and the energy sector 0.9%, while luxury stocks fell 2% and healthcare lost 1.3%.
Markets see an even chance of a Fed rate hike next month, and the CPI report could shape that outlook even if it does not yet capture the latest jump in energy costs.
Stock-specific earnings moves added support: Vestas surged 18.1%, TKMS gained 14.6%, and Balfour Beatty rose 9% after raising guidance.