European stocks decline after six-month gains
European stocks recorded their first monthly decline in six months, influenced by rising global bond yields and diminished appeal of high-risk assets, especially after oil prices fell following a 14% increase during the month. Markets were also impacted by the decline in ten-year German bond yields, despite remaining near their highest levels since 2009, and by Germany's inflation rate rising to its highest level since December 2023. The banking and industrial sectors decreased by 0.8% and 0.7%, respectively, while insurance companies suffered the largest loss of 1.4%. On the other hand, data showed that the British economy grew faster than previously estimated in the second quarter, and British firm Grits raised its profit forecast by 8.2%.
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