From Yahoo Finance: 2024-06-05 05:14:02

European shares gained on Wednesday, reflecting global sentiment amid expectations of a Fed rate cut. The STOXX 600 rose 0.5%, rebounding from losses. Wall Street and Asian equities also climbed after soft U.S. job data boosted Fed rate cut bets. Retail sectors, Inditex, and WH Smith saw gains. ECB rate decision awaited.

Zara-owner Inditex led retail sector higher, jumping 4.7% on strong first-quarter results. Spain’s IBEX index rose 0.6%. WH Smith surged 3.7% on upbeat summer prospects. ECB expected to cut rates by 25 basis points on Thursday. Survey shows euro zone business activity expanded in May, with strong services sector growth.

ASML shares rose 3.3% after positive feedback on talks with TSMC. Tech sector up 1.6%, while European lenders lagged with a 0.2% decline. ECB nearing first rate cut according to Slovak central bank report. Euro zone business activity increased, with services outpacing manufacturing contraction. ECB rate cut raises inflation concerns.



Read more at Yahoo Finance: European shares rebound on soft US jobs data, ECB decision in focus