Eurozone Inflation Moderates to 2.4% in February, Slightly Above Expectations; Deutsche Bank Upgrades Diageo to 'Hold' Amid Stock Decline

Eurozone inflation edged down to 2.4% in February, according to Eurostat flash data, surpassing analysts' projections of 2.3%. Despite the slight decrease from January's 2.5%, the figures indicate persistent inflationary pressures. The European Central Bank (ECB), which is expected to announce another interest rate cut this week, remains optimistic about meeting its 2% inflation target. Markets are closely monitoring the ECB's statement for insights into future monetary policy. In other news, Deutsche Bank Research upgraded Diageo's stock from "Sell" to "Hold," citing a 42% drop in the stock price since mid-2022. Analyst Mitch Collett acknowledges Diageo as a well-positioned company in the European consumer goods sector, but notes that short-term risks and potential structural headwinds largely offset this.