shares, news and UK inflation data

shares, news and UK inflation data, Shoppers walk along the main street in Whitstable, UK.

Bloomberg | Bloomberg | Getty Images

LONDON – European shares were mixed on Wednesday, losing positive momentum from the previous trading session.

The Stoxx 600 The index hovered around the flatline and was down 0.05% at 2pm London time, with major bourses and sectors diverging. Technology stocks led losses, down 0.81%, while mining stocks rose 0.88%.

Britain’s FTSE 100 rose in afternoon trading, rising 0.22% and recovering from earlier losses after the country’s inflation came in line with expectations. Inflation rose by 2.0% year on year in May, meeting the Bank of England’s target ahead of Thursday’s policy rate decision. The Bank is widely expected to keep rates stable at 5.25%, with the majority of rates remaining stable Economists consulted by Reuters expect a cut in August.

Sterling rose slightly after the publication, trading at $1.2728 at 9:45 a.m. London time.

Eurozone data showed on Tuesday that inflation in the single-currency euro area rose by 2.6% year-on-year in May, up from 2.4% in April, the EU statistics office said. Eurostat confirmed in a final lecture. Annual inflation within the wider EU was 2.7%, up from 2.6% the month before.

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