European Stocks Edge Higher Ahead of Eurozone Inflation Data


European Stocks Edge Higher Ahead of Eurozone Inflation Data – European stock markets saw marginal gains on Tuesday as investors prepared for the release of the latest eurozone inflation data ahead of the Christmas holidays.

At 03:15 ET (08:15 GMT), Germany’s DAX index traded 0.3% higher, France’s CAC 40 edged up 0.1%, and the U.K.’s FTSE 100 rose 0.3%.

Focus on Eurozone Inflation

Investor attention in Europe centered on the release of the final reading of eurozone inflation for November. The data is crucial for understanding the potential future path of interest rates in the region.

Eurozone Consumer Price Index (CPI) is expected to confirm an annual rate of 2.4% in November, with a monthly drop of 0.5%. This figure is close to the European Central Bank’s (ECB) 2% target. The ECB, which kept interest rates unchanged last week, faces speculation about the end of its prolonged rate-hiking cycle and the possibility of cuts in the coming year.

Policymakers have attempted to temper these expectations, with statements from Slovenia’s central bank governor cautioning against premature expectations for an interest rate cut in March or April.

Earlier on Tuesday, the Bank of Japan maintained its ultra-easy policy settings and dovish forward guidance.

Bayer Faces Legal Setback

Bayer (ETR:BAYGN) stock rose 0.4%, despite a U.S. jury ordering Monsanto (NYSE:MON), owned by Bayer, to pay $857 million to individuals claiming the company’s chemicals made them ill. Bayer plans to appeal the decision.

UBS (SIX:UBSG) stock increased by 1.5% after activist investor group Cevian Capital announced a 1.3% stake in the Swiss banking giant, valued at around €1.2 billion. The investment group sees “significant value potential” following UBS’s takeover of Credit Suisse.

Crude Prices Stabilize on Naval Task Force Plan

Oil prices stabilized on Tuesday following previous session gains, triggered by the U.S. announcement of plans to expand a naval task force for Red Sea shipping protection.

By 03:15 ET, U.S. crude futures traded 0.2% lower at $72.66 a barrel, while the Brent contract remained flat at $77.96 a barrel.

The uptick in prices on Monday resulted from concerns about shippers diverting vessels from the Red Sea due to increased Houthi militant attacks in Yemen.

In addition, gold futures dipped 0.1% to $2,038.65/oz, while EUR/USD traded 0.1% higher at 1.0932.

Trả lời

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *