- September 10, 2024
- By: Admin1_blog
- EU Market, Indices
Karen Gilchrist@_karengilchrist & Holly Ellyatt@HollyEllyatt
LONDON — European stocks were mixed on Tuesday, following a more positive session at the start of the week.
European markets
| TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|
| .FTSE | FTSE 100 | 8237.7 | -33.14 | -0.4 |
| .GDAXI | DAX | 18466.8 | 23.24 | 0.13 |
| .FCHI | CAC 40 Index | 7464.27 | 39.01 | 0.53 |
| .FTMIB | FTSE MIB | 33652.02 | 61.68 | 0.18 |
| .IBEX | IBEX 35 Idx | 11354.7 | 81.9 | 0.73 |
The pan-European Stoxx 600 was up 0.22% in early deals, as major bourses and sectors diverged. The U.K.’s FTSE 100 was down 0.37% after closing 1.09% higher in the previous session. France’s CAC and Germany’s DAX were up 0.47% and 0.11%, respectively.
Tech stocks added 0.86% while healthcare fell 0.93%, dragged lower by AstraZeneca. The British pharmaceutical giant fell to bottom of the FTSE 100, down 5.1%, after it announced disappointing lung cancer drug trial results.
The more mixed picture for European stocks today comes after regional markets closed higher on Monday, shrugging off last week’s negative sentiment.
There was positive sentiment in Asia-Pacific markets overnight, following gains on Wall Street that saw both the S&P 500 and Nasdaq Composite rebound from their worst week of the year.
Investors are largely looking ahead to next week’s meeting of the U.S. Federal Reserve where an interest rate cut is widely anticipated. There are hopes a cut at the meeting on Sept. 17-18 will assuage concerns about a weakening economy.
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U.K. unemployment eased to 4.1% in May to July 2024, while annual growth in regular employee earnings fell to 5.1% over the same period, data from the Office for National Statistics showed.
Richard Carter, head of fixed interest research at Quilter Cheviot, said the persistence of wage growth could give the Bank of England pause for thought when it meets to make its policy decision next week.
“Though wage growth is coming down, it remains significantly higher than the Bank’s 2% inflation target. In real terms, average regular earnings are rising by 2.9%. While this may help buoy consumer confidence, it will still be of some concern to the BoE,” Carter said in a note.
Italy’s latest industrial production print is also due out on Tuesday.
Source : cnbc
