Jefferies cuts BMW target price to €70 from €92.

After the Federal Reserve's rate decision, spot gold plunged more than $40 intraday and the dollar index (DXY) rallied about 35 points.

T. Rowe Price economist Tomasz Wieladek says the Bank of England's next move is more likely to be a rate cut than a hike. UK May CPI held at 2.8%, a second month below expectations; food inflation was notably weaker and, excluding food, most categories dragged May inflation lower. Wieladek said prolonged restrictive policy has partly sapped inflation momentum, so policymakers are likely to judge further hikes unnecessary, especially given the Middle East conflict's shock to the real economy.