European stocks rebound as investors await key inflation data; Abivax shares tumble
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- Stoxx 600 rose 0.7% after opening, rebounding from a one‑week low.
- Abivax shares fell 28% after the French biotech reported cancer cases among patients in its ulcerative colitis trial.
- Euro‑zone inflation jumped to 3% in April from 2.6% in March, above the ECB’s 2% target, prompting markets to price a 94% chance of a 25‑basis‑point rate hike later this month.
- Trump told CNBC he “couldn’t care less” about stalled peace talks with Iran, indicating disengagement from the conflict.
- Hannah Neumann warned that Iran’s ongoing blockade of the Strait of Hormuz is harming the EU and other regions, and that the war has not delivered improvements.
Why it matters: European investors gain from the 0.7% rally, while Abivax shareholders lose 28% of market value; the ECB’s near‑certain 25‑bps rate hike will raise borrowing costs, and the Iran‑Hormuz blockade keeps oil prices volatile.
