JD Sports (Il Sole 24 Ore Radiocor) - London, 28 Jun - UK shares closed lower after inflation data from the US showed that US price pressure continued to ease in May.

The US personal-consumption expenditures price index for May came in at the slowest annual rate of growth in more than three years. Core PCE, the Fed's preferred measure of inflation, grew 2.6% from the same month last year and was up 0.1% on the month compared to April's 0.3% rate. Both readings met economists' estimates.

Traders are now pricing in a 64% chance of a first Fed cut in September, up from 50% a month ago, according to the CME FedWatch tool.

Investors also looked ahead to the first round of voting in the French election next weekend, after president Emmanuel Macron called for a snap legislative vote in a political gamble after a crushing defeat for his party in the European Parliament elections. to take place on June 30th and July 7th.

Among individual stocks, JD Sports dropped 5.42% at 119.50 pence after US sportswear giant Nike cut its full-year guidance.

The London FTSE 100 closed down 0.19%% at 8,164.12 points.

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(RADIOCOR) 28-06-24 18:17:34 (0561) 5 NNNN