European markets closed higher on Wednesday as investors assessed cooler-than-expected inflation prints from the U.S. and U.K.
The pan-European Stoxx 600 closed 1.3% higher, snapping a three-day losing streak and clocking its best performance since August 2024. All sectors were in the green, led by retail stocks, which rose 2.7%.
London's FTSE 100 gained 1.2% and U.K. government bond yields dropped sharply after official data showed U.K. inflation fell to 2.5% in December. Economists polled by Reuters had anticipated the reading would remain unchanged from the 2.6% print of November.
The 10-year gilt yield, which had been trading at its highest level since 2008, was last down 16 basis points at 4.725%, its lowest level in a week. The 2-year yield fell 16 basis points to 4.44%.
U.K. housebuilders, sensitive to interest rate expectations, were among the top performers. Vistry Group gained 15.7% after issuing a trading update reaffirming profit guidance it lowered in December.
Source : CNBC
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