Good afternoon and welcome to Markets Desk.
European equities are under pressure today, with German stocks sliding more than one percent as oil prices push higher and bond yields climb in response to the ongoing Iran conflict. Weak retail sales data out of Germany compounded the selling, leaving traders on edge heading into the close.
That energy-driven inflation is now rippling into monetary policy expectations across the Atlantic. Eurozone inflation has moved back above three percent, and the European Central Bank is now widely expected to raise rates in September. Higher energy costs tied to the Iran situation are the primary driver, putting the ECB in a difficult position as growth in the region already looks fragile.
On the corporate side, DHL Global Forwarding has acquired Aero Cargas, a Uruguay-based freight and logistics firm, in a move designed to deepen the German logistics giant's footprint across Latin America. Financial terms were not disclosed, but the deal signals continued appetite for regional consolidation in the global freight market despite broader macro headwinds.
That's the tape. Markets Desk, signing off the floor.
