Europe midday: Shares extend losses with eyes on CPI data

by | Aug 7, 2023

(Sharecast News) – European stocks extended losses at the open on Monday as investors eyed inflation figures across the world this week and digested Friday’s US jobs report.
The pan-European Stoxx 600 was down 0.43% at midday BST with all major bourses in the red. Inflation data is due from the US and China this week.

“US stock market futures are a touch higher this morning, as investors prepare for another week of corporate earnings and a fresh round of inflation data,” said Matt Britzman, equity analyst at Hargreaves Lansdown.

“Last Friday’s jobs read showed lower jobs growth than economists had predicted, given a small indication that tightening measures are starting to yield some results.”

“Softening inflation reads this week could help push the Fed in favour of more patience, which would likely be met by a positive reaction from stock markets.”

In equity news, Siemens Energy fell, saying problems at its wind turbine unit would cost it €2.2bn.

Deutsche Boerse fell after UBS downgraded the German bourse operator to ‘neutral’ from ‘buy’.

Scout24 surged as Jefferies maintained a ‘buy’ rating on the German online marketplace operator.

Reporting by Frank Prenesti for Sharecast.com

Related articles

Europe midday: Shares slip into red on Middle East tensions

Europe midday: Shares slip into red on Middle East tensions

(Sharecast News) - European shares fell into the red on Wednesday as Middle East tensions were ratcheted up after the assassination of the Hamas deputy leader Saleh al-Arouni in Lebanon, raising fears of retaliation by the Islamic group Hezbollah against Israel. The...

Europe open: Shares edge ahead as Middle East tensions weigh

Europe open: Shares edge ahead as Middle East tensions weigh

(Sharecast News) - European shares edged ahead in a cautious start to trade on Wednesday as Middle East tensions were ratcheted up after the assassination of the Hamas deputy leader Saleh al-Arouni in Lebanon, raising fears of retaliation by the Islamic group...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x