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This is the first rise in core inflation since March, and was in line with the1.6% growth expected by economists polled by Reuters.
EasyJet PLC (LSE:EZJ) reported a 70% fall in third-quarter profit as the Middle East conflict pushed up fuel costs and weakened booking demand. The low-cost airline, which has also been busy fielding takeover offers in recent weeks, posted headline profit before tax of £85 million for the three months to June, down from £286 million a year earlier.
Asian stocks rallied on Wednesday as investors returned to semiconductor shares after a bruising sell-off, taking their cue from a Wall Street rebound even as Brent crude pushed further above $91 a barrel. MSCI's Asia-Pacific gauge outside Japan gained 1.2%, while South Korea's Kospi surged more than 6% and Japan's Nikkei 225 climbed 1.9%.
Japanese stocks were higher following a recovery in U.S. technology stocks overnight.
Japan's imports jumped to a record high in June, government data showed on Wednesday, as a weak yen and soaring oil prices drove up import costs and inflation, leaving the central bank in a policy bind.
The Nikkei 225 Index continued its freefall as technology companies like Softbank, Tokyo Electron, Kioxia, and Advantest plunged ahead of the upcoming big-tech earnings. It plunged by over 4%, reaching its lowest level since June 11.
A bidding war has broken out for budget carrier easyJet after Apollo and Castlelake have both submitted takeover offers. In this article EZJ-GB
Apollo has agreed key terms on a possible £5.7 billion cash offer for easyJet PLC (LSE:EZJ), trumping rival suitor Castlelake and winning the backing of the airline's board. The US private equity giant is proposing £7.15 per share, above the £6.90 that easyJet agreed in principle with Castlelake on Sunday.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.