Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Energy stocks boost European shares at open

Published by Uma Rajagopal

Posted on June 28, 2024

Featured image for article about Top Stories

(Reuters) – European shares opened higher on Friday, as firmer crude oil prices lifted energy stocks, though the focus was also on a U.S. inflation print, which could be key in gauging the global monetary policy path.

The pan-European STOXX 600 gained 0.4% as of 0710 GMT, after closing lower for the last three sessions.

Energy gained 1%, tracking higher crude prices, while banks advanced 0.8% early in the session. [O/R]

The U.S. personal consumption expenditures (PCE) data – the Federal Reserve’s preferred inflation measure- is due at 1230 GMT and could play a key role in gauging the central bank’s interest rate outlook.

On the continent, French consumer prices rose 2.5% year-on-year in June, in line with expectations, as per preliminary data.

Among individual stocks, Nokia added 3.5% after the Finnish firm agreed to buy Infinera Corp in a deal with an enterprise value of $2.3 billion.

Britain’s largest sportswear retailer JD Sports fell more than 5% after U.S.-based Nike forecast a surprise drop in 2025 revenue.

(Reporting by Shashwat Chauhan in Bengaluru and Jesus Calero in Gdansk; Editing by Eileen Soreng)