European Shares Inch Higher Ahead Of Key US Data

stockmarkets jan17 26may22 lt

European stocks rose broadly on Thursday as investors reacted favorably to the latest Federal Reserve meeting minutes, indicating large rate hikes now while allowing Fed officials room for flexibility later in the year.

Meanwhile, market participants looked ahead to the release of key U.S. GDP, labor and housing market data later in the day for further clues about the outlook for the world's largest economy.

The pan European Stoxx 600 edged up 0.2 percent to 435.31 after gaining 0.6 percent on Wednesday.

The German DAX rose 0.4 percent and France's CAC 40 index gained half a percent while the U.K.'s FTSE 100 was marginally lower as the pound held steady, having briefly touched a three-week peak at $1.2612.

BT Group shares slumped 4.5 percent on news that Britain's business minister will launch a national security review of a deal by the telecoms group's biggest shareholder Patrick Drahi to increase his stake in BT to 18 percent.

Johnson Matthey plummeted 5.4 percent. The specialty chemicals and sustainable technologies company has agreed to sell a portion of its Battery Materials business to chemicals and cathode active materials producer EV Metals Group Plc for GBP 50 million in cash plus a minority equity stake in the buyer.

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