European Markets Extend Rally as U.K. Inflation Cools; Imperial Tobacco and A.P. Moeller-Maersk Among Top Gainers

Now watching

Next video starts in : 7 Play

European Markets Extend Rally as U.K. Inflation Cools; Imperial Tobacco and A.P. Moeller-Maersk Among Top Gainers

European Markets Extend Rally as U.K. Inflation Cools; Imperial Tobacco and A.P. Moeller-Maersk Among Top Gainers
Replay video
Up next

McDonald's headquarters closed due to worker wage protests

Unlock your personal NFL Now stream by signing in to NFL.com

European Markets Extend Rally as U.K. Inflation Cools; Imperial Tobacco and A.P. Moeller-Maersk Among Top Gainers

by TheStreet.com Videos 1:57 mins

European markets rallied for a second day after the U.K. reported that inflation slowed in July, boosting expectations that the Bank of England will keep interest rates at a record low for the time being. Investors in the U.K. took heart from a report that the consumer prices index grew by 1.6% in June, cooling from 1.9% in June, a day before the Bank of England is due to publish minutes from its latest monetary policy meeting. Imperial Tobacco Group plc rose in London after posting a smaller than expected drop in nine-month sale, while BHP Billiton Ltd. declined announcing plans to spin off coal and other non-core assets to create a new listed company potentially worth about $15 billion. In Copenhagen, A. P. Moeller-Maersk A/S rose after the Danish shipping to oil conglomerate raised its full-year profit forecast by $500 million to $4.5 billion and announced plans to buy back up to $1 billion in shares in the next 12 months.

View Comments (0)