Europe open: Shares flat as investors eye rate decisions

by | Dec 9, 2022

European markets were marginally higher in choppy trade at the open on Friday as investors turned their attention towards interest rate decisions from the US and UK next week.
The pan-European Stoxx 600 was effectively flat at 0840 GMT, with regional bourses mixed. The US Federal Reserve is expected to hike rates by 50 basis points.

Shares in Asia-Pacific were higher overnight, with Hong Kong’s Hang Seng index leading gains, as Chinese November inflation data came in roughly in line with expectations and China Premier Li Keqiang said the country’s easing of Covid policy would allow the economy to gather momentum.

US stock futures were had ticked higher as traders look ahead to wholesale inflation data due later in the day.

In equity news, British investment manager Man Group topped the Stoxx after announcing a $125 million share buyback program.

Credit Suisse shares rose after the embattled bank hailed a “milestone” in its turnaround plan on Thursday after raising 2.24 billion Swiss francs as part of a SFR 4bn cash call.

Shares in Carl Zeiss Meditec plunged more than 7% after the German medical technology company issued a weak first-quarter profit outlook.

Reporting by Frank Prenesti for Sharecast.com

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