(RTTNews) – European stocks reported mixed performance on Tuesday, with investors largely refraining from taking meaningful action ahead of monetary policy announcements from the Federal Reserve and the Bank of England, expected on Wednesday and Thursday respectively.
The Swiss National Bank, Norges Bank and Riskbank are also expected to announce their monetary policies during this week.
UK inflation data is also awaited. Headline annual inflation in the UK is expected to reach 7% in August, up from 6.8% the previous month. Underlying inflation should, however, fall to 6.8%, compared to 6.9% a month earlier. Given the inflationary situation, the Bank of England is expected to increase rates by a further 25 basis points in the review to be announced on Thursday.
The pan-European Stoxx 600 index is up 0.13%. The British FTSE 100 rose by 0.15% and the French CAC 40 by 0.25%, while the German DAX and the Swiss SMI fell by 0.11% and 0.1% respectively. CAC 40 French SMI Swiss
In the UK market, TUI is up more than 6%. Hargreaves Lansdown, Phoenix Holdings, Legal & General, Smurfit Kappa Group, ITV, Fresnillo, Land Securities, M&G and British Land Company gain 1.5-2.5%.
Kingfisher is down more than 6% after lowering its annual profit forecast. Burberry Group is down 1.6%, while Royal Mail, Halma, AstraZeneca and Melrose Industries are down 1-1.25%.
On the German market, Vonovia is growing by almost 4%. Volkswagen rebounded by 2.85% and HeidelbergCement by 2%. Deutsche Boerse, E.ON and Continental are also significantly higher.
Deutsche Post is down more than 4%. MTU Aero Engines, Sartorius, Adidas, Porsche, Symrise and Siemens are down 1-2.5%.
In Paris, Renault jumped 2.6% and Edenred gained around 2.1%. BNP Paribas, Stellantis, TotalEnergies, WorldLine, Capgemini, Teleperformance and AXA are up 1 to 1.7%.
Legrand is down 1%. Societe Generale, which plunged sharply on Monday, extended its losses and was down around 1%.
On the economic front, final data from Eurostat show that inflation in the euro zone slowed slightly in August, standing at 5.2%, compared to 5.3% in July. Initially, the rate remained unchanged at 5.3%.
However, core inflation, excluding energy, food, alcohol and tobacco, was confirmed at 5.3%. The key rate rose from 5.5% in July.
Data released by the European Central Bank showed the euro zone’s current account surplus fell to 21 billion euros in July, from 36 billion euros the previous month. This decline is largely explained by the reduction in the visible trade surplus. During the same period last year, the account recorded a deficit of 22 billion euros.
Switzerland’s foreign trade surplus increased in August, as exports grew faster than imports, according to data released Tuesday by the Federal Customs Administration.
The trade surplus amounted to 3.21 billion francs in August compared to 2.55 billion francs the previous month. In real terms, exports rebounded by 5.9% per month in August compared to a decline of 4.9% in July. Likewise, imports recorded a gain of 1.5% in August, compared to a gain of 1.8% in July.
In nominal terms, exports and imports increased by 3.8% and 6.6% respectively.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
(RTTNews) – European stocks reported mixed performance on Tuesday, with investors largely refraining from taking meaningful action ahead of monetary policy announcements from the Federal Reserve and the Bank of England, expected on Wednesday and Thursday respectively.
The Swiss National Bank, Norges Bank and Riskbank are also expected to announce their monetary policies during this week.
UK inflation data is also awaited. Headline annual inflation in the UK is expected to reach 7% in August, up from 6.8% the previous month. Underlying inflation should, however, fall to 6.8%, compared to 6.9% a month earlier. Given the inflationary situation, the Bank of England is expected to increase rates by a further 25 basis points in the review to be announced on Thursday.
The pan-European Stoxx 600 index is up 0.13%. The British FTSE 100 rose by 0.15% and the French CAC 40 by 0.25%, while the German DAX and the Swiss SMI fell by 0.11% and 0.1% respectively. CAC 40 French SMI Swiss
In the UK market, TUI is up more than 6%. Hargreaves Lansdown, Phoenix Holdings, Legal & General, Smurfit Kappa Group, ITV, Fresnillo, Land Securities, M&G and British Land Company gain 1.5-2.5%.
Kingfisher is down more than 6% after lowering its annual profit forecast. Burberry Group is down 1.6%, while Royal Mail, Halma, AstraZeneca and Melrose Industries are down 1-1.25%.
On the German market, Vonovia is growing by almost 4%. Volkswagen rebounded by 2.85% and HeidelbergCement by 2%. Deutsche Boerse, E.ON and Continental are also significantly higher.
Deutsche Post is down more than 4%. MTU Aero Engines, Sartorius, Adidas, Porsche, Symrise and Siemens are down 1-2.5%.
In Paris, Renault jumped 2.6% and Edenred gained around 2.1%. BNP Paribas, Stellantis, TotalEnergies, WorldLine, Capgemini, Teleperformance and AXA are up 1 to 1.7%.
Legrand is down 1%. Societe Generale, which plunged sharply on Monday, extended its losses and was down around 1%.
On the economic front, final data from Eurostat show that inflation in the euro zone slowed slightly in August, standing at 5.2%, compared to 5.3% in July. Initially, the rate remained unchanged at 5.3%.
However, core inflation, excluding energy, food, alcohol and tobacco, was confirmed at 5.3%. The key rate rose from 5.5% in July.
Data released by the European Central Bank showed the euro zone’s current account surplus fell to 21 billion euros in July, from 36 billion euros the previous month. This decline is largely explained by the reduction in the visible trade surplus. During the same period last year, the account recorded a deficit of 22 billion euros.
Switzerland’s foreign trade surplus increased in August, as exports grew faster than imports, according to data released Tuesday by the Federal Customs Administration.
The trade surplus amounted to 3.21 billion francs in August compared to 2.55 billion francs the previous month. In real terms, exports rebounded by 5.9% per month in August compared to a decline of 4.9% in July. Likewise, imports recorded a gain of 1.5% in August, compared to a gain of 1.8% in July.
In nominal terms, exports and imports increased by 3.8% and 6.6% respectively.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
