- July 6, 2021
- Posted by: Stratford Team
- Category: Business
(Reuters) – Upbeat eurozone business activity saw European shares reverse session losses on Monday, leaving them just about half a percent away from all-time peaks, while a nearly 12% surge in Morrisons sent London mid-caps to record highs.
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 5, 2021. REUTERS/Staff
Extending gains to a third straight session, the pan-European STOXX 600 rose 0.3%.
Euro zone businesses expanded activity at the fastest rate in 15 years in June as the easing of more coronavirus restrictions powered the bloc’s dominant service industry, PMIs showed.
The surge came at the cost of mounting inflationary pressures.
But “(as) higher prices still seem to reflect temporary shortages, there is good reason to expect headline inflation to drop back sharply in 2022 as base effects are reversed and shortages ease,” said Jessica Hinds, a Europe…
