Stock indexes of the largest countries in Western Europe ended trading higher on Thursday, boosted by positive economic data. The Stoxx Europe 600 composite index showed an increase of 0.76%, reaching 524.57 points. Growth was noted in almost all countries: the FTSE 100 in the UK gained 0.43%, the DAX in Germany — 0.69%, the CAC 40 in France — 0.84%, the FTSE MIB in Italy — 0.92%, and the IBEX 35 in Spain — 0.23%. The positive mood in the market was caused, among other things, by data on a slowdown in consumer price growth in Germany in August to 2%. This is significantly lower than analysts' expectations and indicates a reduction in inflation risks. Also encouraging was the data on a decrease in inflation in Spain to 2.2%. These factors increase the likelihood that the European Central Bank will cut key interest rates at its September meeting. On Friday, preliminary data on the dynamics of inflation in the eurozone for August are expected. On Thursday, the European Commission reported an increase in the business and consumer confidence index in the eurozone to 96.6 points, which is the highest since May 2023. Among the growth leaders on the stock market on Thursday were the shares of Delivery Hero, Pernod Ricard, Remy Cointreau, LVMH, Hermes, L'Oreal, ASML Holding and STMicroelectronics.
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