European Stock Markets Await Global Inflation Cues
European Stock Markets Slip Lower
European stock markets started the week cautiously as investors awaited key inflation cues. At 03:05 ET (08:05 GMT), Germany’s market traded 0.1% lower, France’s market down 0.2%, and the UK’s market dropped 0.1%.
Global Inflation Data in Focus
Global equities, including Europe, received a boost from Nvidia’s recent quarterly report. However, focus this week shifts back to inflation and its impact on monetary policy. Eurozone’s closely watched inflation data is due on Friday, with expectations of a 2.5% rise in February, moving towards the ECB’s 2% target.
Inflation reports from various countries are due ahead of the Eurozone release. Additionally, the US Federal Reserve’s core inflation measure is forecast to rise by 0.4% in January, impacting market expectations of rate cuts.
Bunzl Announces Acquisition
Bunzl stock dipped after reporting a slight fall in operating margin despite a rise in annual profits. The company also revealed an acquisition of 80% of Nisbets, a catering equipment distributor. Ryanair stock fell due to a warning from its CEO about potential cost increases this summer, while Stellantis announced a multi-billion-euro agreement with Ayvens.
Crude Oil Prices Decline
Oil prices extended last week’s losses amid demand concerns, especially with higher US interest rates. Both Brent and WTI crude futures dropped, influenced by uncertainty over rate cuts and geopolitical instability. Gold prices fell slightly, while the Euro remained stable.
