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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
economy-ss-8
Inflation Update: Weak demand softens shocks
July 4, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
View all Reports
Equities 3 MIN READ

European shares bounce after US inflation data calms nerves

August 10, 2022By Reuters
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Aug 10 (Reuters) – European shares rose on Wednesday in a sharp reversal from earlier in the session with data showing a slower-than-expected rise in US inflation last month providing some relief to investors.

The pan-European STOXX 600 index jumped 0.9%, closing its best session in nearly two weeks.

US consumer prices were unchanged in July due to a sharp drop in the cost of gasoline.

“If the US consumer is feeling more optimistic and has more money in their pocket because inflation back home is not as tricky, then potentially they will be able to spend more across Europe and in the UK and also on those multinational companies that export so much to the US,” said Danni Hewson, Financial Analyst at AJ Bell.

But analysts also noted that even as lower energy prices helped cool inflation in the United States, supply and demand risks painted a dour picture for Europe.

Heat waves and scant rainfall this summer have drained water levels on the Rhine, Germany’s commercial artery, disrupting shipping and pushing freight costs up more than five-fold.

“Unfortunately, the difficulties of sourcing energy from non-Russian sources does mean we could see European gas prices head higher as demand ramps up later into the year,” said Joshua Mahony, senior market analyst at online trading platform IG.

Rate-sensitive tech stocks .SX8P, which were among early decliners, ended 2.4% higher. Other major gainers included miners, retailers .SXRP and travel & leisure.

The STOXX 600 has struggled this month on worries over gloomy economic data, rising geopolitical tensions and fears that higher interest rates could tip the economy into a recession.

Euro zone money markets now fully price in a half-point interest rate hike by the European Central Bank in September.

Wind turbine maker Vestas (VWS) jumped 8.8%, making it the best performer on the STOXX 600 after it said it would sell its converters and control panels business to KK Wind Solutions.

Ahold Delhaize AD.AS gained 7.6% after the Dutch supermarket giant said it was postponing plans for an initial public offering of its non-food retailer, Bol.com, because of unfavourable market conditions.

(Reporting by Shreyashi Sanyal and Johann M. Cherian in Bengaluru; Editing by Sriraj Kalluvila, Kirsten Donovan)

This article originally appeared on reuters.com

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