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☆ France's Barnier announces targeted tax hikes to plug budget deficit
▼ + stars: | 2024-10-01 | by ( ) www.cnbc.com time to read: +2 min

Newly appointed France's Prime Minister Michel Barnier arrives for the handover ceremony with outgoing Prime Minister Gabriel Attal at the Hotel Matignon in Paris, France, September 5, 2024. Prime Minister Michel Barnier announced steep public spending cuts and targeted tax hikes for France's biggest companies and wealthiest individuals on Tuesday, saying there was no other way to narrow a gaping budget deficit. Tax increases would be targeted and temporary, he said, without giving further details. ING economist Charlotte de Montpellier said Barnier had been too light on detail to know if the timeline for cutting the deficit was credible and questioned whether the tax hikes would be temporary. "... the likelihood of these tax hikes becoming permanent is significant," de Montpellier said.

Persons: Michel Barnier, Gabriel Attal, Barnier, Charlotte de Montpellier, de Montpellier Organizations: France's, European Union, Le Parisien, ING Locations: Paris, France, Europe

☆ Europe set to start the last trading session of September in negative territory
▼ + stars: | 2024-09-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to start the week and the final trading session of September on Monday in negative territory. The U.K.'s FTSE index is seen opening 16 points lower at 8,305, Germany's DAX 43 points lower at 19,434, France's CAC 40 down 7 points at 7,791 and Italy's FTSE MIB 1 point lower at 34,626, according to data from IG. The lackluster start for European markets comes after the pan-European Stoxx 600 index closed at a fresh record high on Friday, as stocks got a boost from China's announcement last week of a range of stimulus measures that aim to boost the economy. Overnight in the Asia-Pacific region, stocks in mainland China spiked over 6% while Japan's Nikkei 225 tumbled 4.64%, as investors assessed key economic data from the two countries.

Persons: Germany's DAX Organizations: CAC, IG, Nikkei Locations: Asia, Pacific, China

☆ 5 titans of French luxury grew $50 billion richer in a week — and are now worth more than Costco
▼ + stars: | 2024-09-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Five French luxury icons grew $50 billion richer last week on the back of China's stimulus plans. AdvertisementFive titans of French fashion and beauty added a full $50 billion to their fortunes last week, boosting their combined wealth to more than $420 billion. Julien Hekimian/Getty ImagesKering founder François Pinault's net worth rose by $2.3 billion to $25.6 billion last week, placing him 78th on the list. Arnault was worth $24 billion more at $231 billion in March, which made him the world's wealthiest person at the time. Bettencourt Meyers was $7.5 billion richer at $101 billion in June, while the Chanel siblings were each worth about $6.4 billion more at roughly $55 billion around the same time.

Persons: LVMH's Arnault, Chanel, —, stoked, Bernard Arnault, Louis Vuitton, Larry Ellison, Mark Zuckerberg, Françoise Bettencourt Meyers, L'Oréal's, Alice Walton, Francois Guillot, Alain, Gerard Wertheimer, Coco Chanel, Chanel's cofounders, Julien Hekimian, François, Balenciaga, Yves Saint Laurent, Kering, Francois, Henri Pinault, Salma Hayek, MICHAEL TRAN, Rodolphe Saadé, Arnault, haven't, Pinault, Bettencourt Meyers Organizations: Service, Tiffany, Bloomberg, Walmart, Getty, Gucci, CMA CGM, Procter & Gamble, Home, Costco Locations: China, Sephora, AFP

☆ European markets head for higher open as investors weigh global economic outlook
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets headed for a higher open on Friday as investors weighed the outlook for the economy and looked to fresh data. European stocks had climbed Thursday, with the pan-European Stoxx 600 closing 1.25% higher after being boosted by gains in Asia-Pacific markets. Those widely continued their climb on Friday, still buoyed by China's announcement of stimulus measures earlier in the week. Economists are expecting headline PCE to have risen 2.3% on an annual basis and 0.1% from the previous month. Back in Europe, preliminary inflation data for September is expected out of France, and the latest German unemployment data is also due.

Persons: Germany's DAX Organizations: CAC, MIB, LONDON, People's Bank of, PCE Locations: Asia, Pacific, People's Bank of China, U.S, Europe, France

☆ French inflation cools more than expected in September as energy prices, transport costs decline
▼ + stars: | 2024-09-27 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

France's harmonized inflation rate fell sharply in September, preliminary data from the National Institute of Statistics and Economic Studies (Insee) showed Friday. Harmonized consumer prices in the euro zone's second-largest economy came in at 1.5% in September, down from 2.2% in August. The Harmonized Index of Consumer Prices (HICP) is adjusted for comparison with other euro zone countries. Altogether, Insee said that the September drop in consumer prices represents the sharpest monthly fall since 1990. Tobacco prices were expected to be virtually unchanged in September, compared to the previous month, Insee said.

Organizations: Eiffel, Paris, National Institute of Statistics, Economic Studies, Consumer, Reuters, European Central Bank, ECB, France's, Index, Olympic, Paralympic Games Locations: Paris, London

☆ Elon Musk's plan to dominate the in-flight internet market gained another customer. Here's every airline using Starlink.
▼ + stars: | 2024-09-27 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Air France announced it will offer free ultra-high-speed WiFi via Elon Musk's Starlink from 2025. Air France announced that from 2025, it will offer ultra-high-speed WiFi free of charge to customers in every cabin. Musk celebrated the deal in a post on X, replying to Air France's post by saying: "Air France is installing Starlink!" The announcement comes just two weeks after United Airlines also confirmed it was signing up to become a Starlink customer. As of the Air France announcement, here are all the airlines that have publicly announced deals with Starlink:

Persons: Elon Musk's, —, Elon Musk's Starlink, Musk, you'll, Scott Kirby Organizations: Air France, Elon, Elon Musk's Starlink, United Airlines, Qatar Airways, Hawaiian Airlines, Service, SpaceX, Viasat, Boeing, Air, Starlink Locations: Starlink, Air France

☆ France's biggest lender says there are 'too many' European banks as UniCredit moves on Commerzbank
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

A sign on the exterior of a BNP Paribas SA bank branch in Paris, France, on Friday, Aug. 2, 2024. France's BNP Paribas on Thursday said there are simply too many European lenders for the region to be able to compete with rivals from the U.S. and Asia, calling for the creation of more homegrown heavyweight banking champions. Milan-based UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in recent weeks as it seeks to become the biggest investor in Germany's second-largest lender with a 21% stake. UniCredit, which took a 9% stake in Commerzbank earlier this month, appears to have caught German authorities off guard with the potential multibillion-euro merger. Germany's position on UniCredit's swoop has prompted some to accuse Berlin of favoring European banking integration only on its own terms.

Persons: CNBC's Charlotte Reed, Lars Machenil, Germany's Commerzbank, Machenil, Olaf Scholz, Scholz, Berlin Organizations: BNP, SA, Bank of America Financials, Spain's BBVA, Banco Sabadell Locations: Paris, France, U.S, Asia, Europe, Milan, Frankfurt, Germany's

☆ European stocks set for positive open, spurred on by gains in Asia-Pacific markets
▼ + stars: | 2024-09-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

City of London skyline on 10th June 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. LONDON — European stocks are expected to open in positive territory Thursday, spurred on by gains in Asia-Pacific markets overnight. The positive start to the trading day anticipated in Europe comes after Asia-Pacific markets rose overnight, with markets in the region led by Japan's Nikkei 225 and Chinese markets extending gains. Japan's Nikkei climbed 2.12%, while the broad based Topix was up 1.65%, as the Bank of Japan released minutes of its July meeting.

Persons: Germany's DAX Organizations: LONDON, CAC, IG, Japan's Nikkei, Bank of Japan, China's CSI Locations: London, United Kingdom, The City, Asia, Pacific, Europe

☆ European markets sober up after getting a Chinese stimulus boost
▼ + stars: | 2024-09-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

A balcony above a trading floor inside the Euronext NV stock exchange in Paris, France, on Monday, March 13, 2023. LONDON — European stocks are expected to open in negative territory Wednesday, paring gains from the previous session on the back of Chinese stimulus measures. The U.K.'s FTSE index is expected to open 46 points lower at 8,237, Germany's DAX down 49 points at 18,924, France's CAC 40 down 27 points at 7,568 and Italy's FTSE MIB down 181 points at 33,686, according to data from IG. European stocks traded higher Tuesday, buoyed by China's central bank monetary stimulus measures with mining, technology and household goods the best-performing sectors. Positive sentiment in Europe comes after Asia-Pacific markets climbed Tuesday after Beijing's announcement of a range of policy easing measures aimed at stimulating the economy.

Persons: Germany's DAX Organizations: LONDON, CAC, IG Locations: Paris, France, Europe, Asia, Pacific

☆ European markets set for choppy open as growth concerns return
▼ + stars: | 2024-09-24 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Tourists take pictures under the rain in front of the Eiffel Tower in Paris. LONDON — European stocks are expected to open in mixed territory Tuesday as economic uncertainty and concerns over Europe's growth outlook return to the fore. The U.K.'s FTSE index is expected to open 4 points higher at 8,253, Germany's DAX up 23 points at 18,852, France's CAC 40 up 19 points at 7,518 and Italy's FTSE MIB 16 points higher at 33,610, according to data from IG. Market participants will be keeping an eye on shares of Commerzbank Tuesday after the stock fell around 5.7% Monday after German Chancellor Olaf Scholz criticized what he described as UniCredit's "hostile" and "unfriendly" move on the bank, Reuters reported. His comments came shortly after Italy's UniCredit announced it had increased its stake in the German lender to around 21% and submitted a request to boost the holding to up to 29.9%, signaling a takeover bid might be on the cards.

Persons: Germany's DAX, Olaf Scholz, Italy's UniCredit Organizations: Eiffel, LONDON, CAC, IG, Reuters Locations: Paris

☆ European stocks poised to start the week positively as markets remain buoyed by Fed cut
▼ + stars: | 2024-09-23 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to start the week in positive territory as global markets continue to react positively to the U.S. Federal Reserve's interest rate cut last week. The U.K.'s FTSE index is seen opening 46 points higher at 8,245, Germany's DAX up 87 points at 18,810, France's CAC 40 up 40 points at 7,359 and Italy's FTSE MIB up 169 points at 33,821, according to data from IG. Global markets continue to trade higher following the Fed's 50-basis-point cut last week, its first cut in four years. Asia-Pacific markets were mostly higher overnight as investors digested monetary policy decisions from Japan and China as well as the Fed's sharp cut. Dow futures were near flat Sunday night after enthusiasm for last week's interest rate cut propelled the blue-chip index to a record closing level.

Persons: Germany's DAX Organizations: U.S, CAC, IG, Global, Dow Locations: U.S . Federal, Asia, Pacific, Japan, China

☆ Barnier's government is walking on a tight rope, says Chatham House
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarnier's government is walking on a tight rope, says Chatham HouseSébastien Maillard, special advisor at the Institut Jacques Delors and associate fellow at Chatham House, discusses the appointment of France's new government.

Persons: Sébastien Maillard, Institut Jacques Delors Organizations: Institut Jacques, Chatham House Locations: Chatham

☆ European markets set to open lower following slew of central bank decisions
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

Shoppers on the high street in the Kingston district of London, U.K.LONDON — European markets were poised to open lower Friday as investors digested a slew of central bank rate decisions this week and their impact on the global economy. The U.K.'s FTSE 100 was seen opening 41 points lower at 8,291, Germany's DAX down 59 points at 18,939, France's CAC 2 points lower at 7,604 and Italy's FTSE MIB down 124 points at 33,913, according to IG data. The regional Stoxx 600 closed higher Thursday, after the U.K.'s Bank of England and Norway's Norges Bank both held rates steady, drawing a contrast with the U.S. Federal Reserve's bumper rate cut a day prior.

Persons: Germany's DAX Organizations: LONDON, CAC, Bank of England, Norway's Norges Bank, U.S Locations: Kingston, London, U.S . Federal

☆ European markets set to open higher following Fed cut; Bank of England rate decision in focus
▼ + stars: | 2024-09-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Bank of England in the City of London as economists and mortgage holders await this week's interest rate announcement on 28th July 2024 in London, United Kingdom. LONDON — European markets were poised to open higher as investors digested the U.S. Federal Reserve's first interest rate cut in four years and looked ahead to the Bank of England's rate decision later in the session. Back in Europe, investor attention is now turning to the Bank of England, with the central bank largely expected to hold rates steady at 5%. The Fed's jumbo rate cut is unlikely to impact the Bank of England, according to economists, as the central bank ratified its decision around lunchtime Wednesday, hours before the U.S. announcement. Also on Thursday, Norway's central bank will deliver its latest interest rate decision.

Persons: Germany's DAX, Tiina Lee, CNBC's Organizations: of England, City of, LONDON, . Federal, Bank of, FTSE, France's CAC, Fed, Bank of England, Citi UK Locations: City, City of London, London, United Kingdom, ., Trading, Asia, Europe, U.S, Norway's

☆ European markets set for lower open as investors weigh UK inflation data
▼ + stars: | 2024-09-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Italy's FTSE MIB meanwhile was set to fall by around 39 points to 33,784. LONDON — European markets were headed for a lower open on Wednesday as investors considered key data from the region and looked to the U.S. Federal Reserve interest rate decision. In Europe, U.K. inflation figures for August were published Wednesday, coming in at 2.2% according to data from the Office for National Statistics. The data comes ahead of the Bank of England meeting and interest rate policy decision scheduled for later this week. The Fed is all but guaranteed to announce an interest rate cut on Wednesday, which would be its first since it started hiking rates in March 2022.

Persons: Germany's DAX Organizations: CAC, LONDON, U.S . Federal, Office, National Statistics, Bank of England, Bank of Japan, U.S . Federal Reserve, Traders Locations: Europe, Asia, Pacific

☆ European markets set to open higher ahead of bumper week for central banks
▼ + stars: | 2024-09-16 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

A view of the Navigli in Milan, Italy on May 20, 2024. LONDON — European stocks were set to open higher Monday as investors prepared for a bumper week of interest rate decisions from the U.S Federal Reserve and the Bank of England. The FTSE 100 was seen opening 4 points higher at 8,278, Germany's DAX up 27 points at 18,713, France's CAC 7 points higher at 7,468 and Italy's FTSE MIB up 30 points at 33,583, according to IG data. The pan-European Stoxx 600 closed higher on Friday and added 1.09% for the week as positive momentum returned to the market. With a U.S. rate cut now all but guaranteed, investors are waiting to see by how much the Fed will cut rates on Wednesday, and what guidance chair Jerome Powell will give on the future path for monetary policy.

Persons: Germany's DAX, Jerome Powell Organizations: LONDON, U.S Federal Reserve, Bank of England, CAC Locations: Milan, Italy

☆ Breton says he is stepping down as France's EU commissioner, citing spat with von der Leyen
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: +1 min

French European Commissioner Thierry Breton on Monday said he would step down as a member of the EU executive body over a rift with Commission President Ursula von der Leyen, alleging that she had asked Paris to withdraw his candidacy. Von der Leyen is finalizing her list of commissioners for her second term leading the governing body, due to be presented to the public this week. In his resignation letter, which Breton posted on X, he said von der Leyen "a few days ago" had asked France to withdraw his name as its pick for the Commission "for personal reasons" in return for an "allegedly more influential portfolio". Von der Leyen's office did not immediately reply to a request for comment. The French presidency did not immediately reply to a Reuters request for comment.

Persons: Thierry Breton, Ursula von der Leyen, Paris, Von der, Breton, von der Organizations: French, Big Tech, Reuters, EU Locations: France

☆ European markets poised to open higher after ECB rate cut
▼ + stars: | 2024-09-13 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European stocks are set to open higher Friday as investors continue to digest the European Central Bank's decision to cut rates and its impact on future monetary policy. The U.K.'s FTSE 100 is seen opening 1 point higher at 8,239, France's CAC up 20 points at 7,448, Germany's DAX 57 points higher at 18,563 and Italy's FTSE MIB up 41 points at 33,484 ,according to IG data. The European Central Bank slashed rates as expected on Thursday, marking its second 25-basis-point cut this year and bringing its key interest rate to 3.5%. Policymakers gave little indication on the course for monetary policy, however, with President Christine Lagarde saying the bank was not "pre-committing to a particular rate path." Asia-Pacific markets, meanwhile, were mixed, as mainland Chinese markets rebounded from a six-year low and Australian markets near an all-time high.

Persons: Germany's DAX, Christine Lagarde Organizations: Central, France's CAC, European Central Bank, U.S, U.S . Federal Locations: U.S ., Asia, Pacific, Europe, France

☆ Jeep CEO enacts turnaround plan after significant sales declines
▼ + stars: | 2024-09-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Nonetheless, Jeep CEO Antonio Filosa believes the brand's worst days are behind it and it's still possible to achieve the 1 million sales target. Jeep salesFilosa said Jeep, which reports sales quarterly, saw U.S. sales rise last month: They were up 28% from August 2023 and 55% from July. The New York Stock Exchange welcomes The Jeep Brand (NYSE: STLA) to the podium, on May 31, 2024. Ahead of such vehicles, Jeep has increased its media spending by 20% compared with the first half of the year, according to the automaker. 2024 Jeep Wagoneer S EV Jeep

Persons: Michael Wayland, Antonio Filosa, Filosa, Cox, Filosa's, Carlos Tavares, Stellantis, Jeep, Lynn Martin, Tavares, Bob Broderdorf, Nathan Laine Organizations: CNBC DETROIT, Jeep, Cherokee, Cox Automotive, CNBC, Council, New York Stock Exchange, Brand, NYSE Group, NYSE, Fiat Chrysler, France's PSA Groupe, Paris, Bloomberg, Getty, U.S, EV Locations: U.S, American

☆ UK leads resurgence in European office investment
▼ + stars: | 2024-09-13 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Sopa Images | Lightrocket | Getty ImagesLONDON — The U.K. is leading a recovery in Europe's long subdued office real estate market, with overall investment in the sector expected to pick up further in the second half of the year. Overall, European office investment transactions in the first half of the year fell 21% year-on-year to 14.1 billion euros, Savills data showed — a 60% decrease on the five-year H1 average. Europe's divided recoveryThe U.K. real estate market was the first in Europe to undergo a significant contraction following its peak in 2022. "London is leading the way a bit, partly because it repriced earlier and quicker and more significantly," Kim Politzer, head of research for European real estate at Fidelity International, told CNBC over the phone. Kim Politzer head of research for European real estate at Fidelity International

Persons: Mike Barnes, Savills, Kim Politzer, Marcus Meijer, Mark, CNBC's, James Burke, Tom Leahy, Leahy, Europe's, JLL Organizations: Getty, Britain, CNBC, Bank of, Fidelity International, European Central Bank, Nurphoto, U.S Locations: London, Europe, Paris, Stockholm, Berlin, Hamburg, La Défense, France, Ireland, Netherlands, Spain, Italy, Portugal, Southern Europe, Germany

☆ UAW, U.S. dealers increase criticism of Stellantis CEO over cuts, sales declines
▼ + stars: | 2024-09-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

David Dee Delgado | ReutersDETROIT – Stellantis ' U.S. dealer network has joined the United Auto Workers union in criticizing CEO Carlos Tavares for the company's recent sales declines, factory production cuts and other decisions they deem detrimental to the automaker's business. "The market share of your brands has been slashed nearly in half, Stellantis stock price is tumbling, plants are closing, layoffs are rampant, and key executives fleeing the company. We will continue to work with our dealers to avoid any public disputes that will delay our ability to deliver results." Stellantis reported a record profit in 2023, but so far this year, the automaker reported a first-half net profit of 5.6 billion euros ($6.07 billion), down 48% from the same period of 2023. It's part of his "Dare Forward 2030" plan to increase profits and double revenue to 300 billion euros ($325 billion) by 2030.

Persons: Carlos Tavares, David Dee Delgado, Tavares, Kevin Farrish, Farrish, Ford Stellantis, Stellantis, Shawn Fain, Kamala Harris, Tim Walz, Rebecca Cook Organizations: New York, Auto, Reuters DETROIT, United Auto Workers, Chrysler, Dodge, Investor, Bloomberg, Stellantis, GM, Fiat Chrysler, France's PSA Groupe, UAW, U.S, Democratic Locations: Manhattan , New York, U.S, Virginia, Romulus , Michigan

☆ European markets poised to rally at the open, ahead of anticipated ECB rate cut
▼ + stars: | 2024-09-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European Central Bank (ECB) President Christine Lagarde addresses a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on July 18, 2024. LONDON — European stocks are expected to rally at the open Thursday as investors in the region await the latest monetary policy decision from the European Central Bank. The U.K.'s FTSE index is seen opening 76 points higher at 8,267, Germany's DAX up 159 points at 18,482, France's CAC 40 up 64 points at 7,460 and Italy's FTSE MIB up 257 at 33,472, according to data from IG. The European Central Bank (ECB) is expected to slash rates again by 25 basis points on Thursday, a move that would mark the first cut since June, when it described the potential for a September reduction as "wide open." The ECB's key interest rate — which helps to price all sorts of loans and mortgages across the bloc — is currently at 3.75% after years of aggressive hikes.

Persons: Christine Lagarde, Germany's DAX Organizations: European Central Bank, LONDON, The, CAC, IG Locations: Frankfurt, Germany

☆ From the far right to fiscal challenges, France could lurch from one crisis to another
▼ + stars: | 2024-09-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

France's challenges are far from over, however, with the country facing acute fiscal challenges and an ongoing threat posed by the far-right National Rally opposition, led by Jordan Bardella and Marine Le Pen. France this week asked the Commission to extend its deadline of Sept. 20 to submit debt reduction proposals. Analysts say Barnier's political survival therefore "depends on the whims and personal-political calculations of Le Pen." "The great unknown ... is how far Le Pen will be willing to address the most immediate crisis facing Barnier and the country: the painful choices needed to prevent France from plunging into a destructive fiscal crisis by the end of this year," he said. Marine Le Pen and Jordan Bardella at the final rally before the June 9 European Parliament election, held at Le Dôme de Paris - Palais des Sports, on June 2, 2024.

Persons: La France Insoumise, Remon Haazen, Emmanuel Macron's, Michel Barnier, Jordan Bardella, Pen, Barnier's, Gabriel Attal, Sarah Meyssonnier, Reuters Barnier's, Macron —, Le, Mujtaba Rahman, France's, Eurasia Group's Rahman, Le Pen's Organizations: Republique, La, Getty, Getty Images, Veteran, National Assembly, European, France's, Reuters, New, National, Eurasia Group, Le, Palais des Sports, Nurphoto Locations: La France, Paris, France, Europe, Eurasia

☆ European stocks set for mixed open as markets await U.S. inflation data
▼ + stars: | 2024-09-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Shoppers at a Walmart store in Secaucus, New Jersey, U.S., in March 2024. LONDON — European stocks are expected to open in mixed territory on Wednesday as global markets focus on the latest U.S. inflation data set to be released later in the day. The U.K.'s FTSE index is seen opening 4 points higher at 8,208, Germany's DAX up 25 points at 18,304, France's CAC 40 flat at 7,404 and Italy's FTSE MIB up 66 points at 33,259, according to data from IG. Traders have their eyes on two key economic reports out of the U.S. this week, with the consumer price index report for August due Wednesday, followed by the producer price index on Thursday. The data comes before a widely anticipated interest rate cut at the Federal Reserve's Sept. 17-18 meeting that could help assuage concerns over a weakening U.S. economy.

Persons: Germany's DAX Organizations: Walmart, LONDON, CAC, IG, Traders, Federal Locations: Secaucus , New Jersey, U.S

City of London skyline on 10th June 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. Mike Kemp | In Pictures | Getty ImagesLONDON — European stocks were mixed on Tuesday, following a more positive session at the start of the week. The more mixed picture for European stocks today comes after regional markets closed higher on Monday, shrugging off last week's negative sentiment. Investors are largely looking ahead to next week's meeting of the U.S. Federal Reserve where an interest rate cut is widely anticipated.

Persons: Mike Kemp, Germany's DAX, shrugging Organizations: CAC, Tech, AstraZeneca, Nasdaq, Investors, U.S . Federal Reserve Locations: London, United Kingdom, The City, Asia, Pacific

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