Stock closed slightly higher on Friday’s comments by the Fed Chairwoman Janet Yellen. She said at t Harvard University on Friday that an interest rate hike would be likely appropriate “in the coming months”. She noted that the U.S. economy continued to improve, while inflation would reach the Fed’s 2% target “over the next couple of years”.
Market participants also eyed the economic data from the Eurozone. Destatis released its consumer price data for Germany on Monday. German preliminary consumer price index increased 0.3% in May, in line with expectations, after a 0.4% drop in April.
On a yearly basis, German preliminary consumer price index rose to 0.1% in May from -0.1% in April, in line with expectations.
European Commission released its economic sentiment index for the Eurozone on Monday. The index rose to 104.7 in May from 104.0 in April. April’s figure was revised up from 103.9.
Analysts had expected the index to increase to 104.4.
The rise was driven by improvements in confidence among consumers and managers in the retail trade and construction sectors.
The industrial confidence index remained unchanged at -3.6 in May, in line with expectations. April’s figure was revised up from -3.7.
The final consumer confidence index was up to -7.0 in May from -9.3 in April, in line with expectations.
The business climate index increased to 0.26 in May from 0.15 in April. April’s figure was revised up from 0.13. Analysts had expected the index to climb to 0.16.
The rise in business climate index was driven by a more favourable managers’ assessment of past production, the stocks of finished products and overall order books.
Markets in the U.K. were closed for a public holiday.
Indexes on the close:
Name Price Change Change %
FTSE 100 closed
DAX 10,333.23 +46.92 +0.46 %
CAC 40 4,529.4 +14.66 +0.32 %
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