European stocks climb at open

Europe’s main stock prices opened higher on Wednesday, following choppy trade the day before as investors weighed the prospect of rising inflation.

The benchmark FTSE 100 index of major companies in London rose 0.2 percent to 7,622.14 points from the previous day’s end.

London will remain shut on Thursday and Friday for a long bank holiday weekend to mark Queen Elizabeth II’s Platinum Jubilee.

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On Wednesday, Frankfurt’s DAX index added 0.6 percent to 14,469.73 points in initial eurozone trade.

The Paris CAC 40 gained 0.5 percent in value to stand at 6,498.94.

Investors were brought down to earth with a bump on Tuesday with figures showing eurozone inflation hit a record high in May on rocketing energy costs.

The news puts additional pressure on the European Central Bank to act faster to control inflation by raising interest rates with the Federal Reserve.

There is concern that waiting too long will force policymakers to announce harsher, more painful increases later.

“The specter of inflation continues to loom large,” noted Richard Hunter, head of markets at Interactive Investor.

Read More: European stocks markets mainly dip at open

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