Europe open: Shares up as investors eye ECB rate decision

by | Sep 14, 2023

(Sharecast News) – European shares opened slightly higher on Thursday as investors awaited the latest rate decision from the European Central Bank and digested Wednesday’s US inflation reading.
The pan-European Stoxx 600 index was up 0.06% at the start of the session, with regional bourses mixed.

“There’s some caution in the air for European markets as investors settle in to hear the ECB’s decision on rates off the back of recent reports that economic growth will be slower than expected,” said Matt Britzman, equity analyst at Hargreaves Lansdown.

“Expectations have been all over the place, with hopes that a pause might be on the cards reversing in recent days – markets are now pricing in a 63% chance of a 25-point hike.”

The US Consumer Price Index in August rose by 3.7% on an annualised basis, against estimates of 3.6% and by 0.6% on a monthly basis, in line with expectations.

However, core number inflation, which strips out volatile energy and food prices, rose 4.3% on an annual basis and by 0.3% monthly – both in line with expectations.

In equity news, online beauty product platform THG fell, despite holding guidance and posting a rise in first-half core earnings.

Reporting by Frank Prenesti for Sharecast.com

Related articles

Europe midday: Shares hold gains as EZ CPI data boosts sentiment

Europe midday: Shares hold gains as EZ CPI data boosts sentiment

(Sharecast News) - European shares held strong gains on Friday, as a sharp fall in eurozone inflation and strong UK GDP data offset an unexpected fall in German retail sales to lift sentiment. The pan-European Stoxx 600 was up 1.06% at midday with all major regional...

Europe midday: Shares turn red on German GDP data, Evergrande woes

Europe midday: Shares turn red on German GDP data, Evergrande woes

(Sharecast News) - European shares turned flat on Thursday despite as more woes from troubled Chinese property developer Evergrande, which hit shares in Hong Kong overnight, hit sentiment, along with downbeat growth data from Germany. The pan-European Stoxx 600 index...

Europe midday: Rate worries continue to weigh on sentiment

Europe midday: Rate worries continue to weigh on sentiment

(Sharecast News) - European shares were lower on Wednesday as worries over interest rates continued to unsettle investors, leading to a sharp fall on US markets overnight on the back of surging treasury yields. The pan-European Stoxx 600 index was down 0.19% with all...

Latest Articles

US open: Stocks steady as inflation continues to ebb

US open: Stocks steady as inflation continues to ebb

(Sharecast News) - Wall Street was on a firmer footing on the last trading day of the third quarter as a key inflation indicator printed slightly below the consensus forecasts. "The September rut in stock indices paused into quarter end as both Eurozone and the Fed's...

FTSE 100 movers: Severn Trent, JD Sports rally

FTSE 100 movers: Severn Trent, JD Sports rally

(Sharecast News) - London's FTSE 100 was up 0.5% at 7,642.68 in afternoon trade on Friday. Severn Trent was the standout performer on the index after saying it was seeking to raise £1bn for a transformation plan expected to create 7,000 jobs across the Midlands. JD...

Annual UK property sales fall in August – HMRC

Annual UK property sales fall in August – HMRC

(Sharecast News) - Annual house sales fell sharply in August, provisional government data showed on Friday. According to HM Revenue and Customs, the seasonally-adjusted estimate of UK residential transactions was 87,010 last month. That was a 1% uptick on July 2023...

BofA Merrill Lynch upgrades Marks & Spencer to ‘buy’

BofA Merrill Lynch upgrades Marks & Spencer to ‘buy’

(Sharecast News) - Bank of America Merrill Lynch upgraded Marks & Spencer on Friday to 'buy' from 'neutral' as it argued the stock is still too cheap and consensus earnings too low. The bank said that despite the stock's outperformance year-to-date, it believes that...

Retail sales climb as September heatwave fades – BDO

Retail sales climb as September heatwave fades – BDO

(Sharecast News) - High street sales pushed higher last week, industry research showed on Friday, as delayed autumn spending finally looked to have got underway. According to the latest BDO High Street Sales Tracker, total like-for-like sales rose by 5.51% in the week...

Join our mailing list

Subscribe to our mailing list to receive regular updates!

No Fields Found.
x