Europe midday: Stocks lifted by inflation slowdown in UK and US ...Middle East

European stocks were performing well on Wednesday as investors assessed what drops in US and UK inflation mean for the future of monetary policy. However, closer to home, data on the continent was less pleasing, with eurozone industrial output slumping more than forecast and economic forecasts being slashed by the European Commission. By 1234 CET, the Stoxx 600 index was up 0.6%, with decent gains across most major indices, with the exception of Madrid’s Ibex 35 which rose just 0.1% owing to weakness in the banking, utility and telecoms sectors. Expectations were rising that the Federal Reserve and Bank of England may be hold off from any further monetary tightening after inflation in th

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