Live Markets: Europe before the bell: all quiet ahead of the ECB

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12/12/2024 07:41

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    EUROPE BEFORE THE BELL: ALL QUIET AHEAD OF THE ECB
    Another record close on Wall Street and positive trading in Asia were set to help European
shares steady on Thursday as traders braced for central banks in Switzerland and the euro zone
to further cut borrowing costs.
    EuroSTOXX50 futures, the benchmark for the single currency bloc, was broadly unchanged and
FTSE futures inched 0.1% higher.
    Wall Street futures fell just slightly, a day after the Nasdaq Composite  .IXIC  scaled the
20,000-point mark for the first time as tame US inflation cemented bets for a Fed cut next week.
    The European Central Bank is expected to reduce rates by 25 basis points and signal further
easing ahead. Swiss bankers on the other hand could cut rates by a larger 50 basis points.
    Corporate news was thin. 
    Among the highlights, Leonteq  LEON.S  was ordered to disgorge 9.3 million Swiss francs in
profits after a probe found the Swiss investment services firm breached risk management
obligations. Traders called for a 7% drop for its shares at the open.
    Pirelli  PIRC.MI  was also in focus after Il Messaggero daily reported that Camfin, the
tiremaker's No.2 shareholder behind China's Sinochem  600500.SS  which holds a 37% stake, is
planning to lift its holding to just below 30%.
    
    (Danilo Masoni)
    *****
    
    EARLIER ON LIVE MARKETS:
    ECB, SWISS SET TO CUT, BUT BY HOW MUCH? CLICK HERE

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ECB rates vs inflation    https://reut.rs/408jgkr
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