Live Markets: European futures fall on China data; UK inflation rises
17/01/2024 07:36
Welcome to the home for real-time coverage of markets brought to
you by Reuters reporters. You can share your thoughts with us at
EUROPEAN FUTURES FALL ON CHINA DATA; UK INFLATION RISES
European shares were set to open down sharply on Wednesday,
after underwhelming China data met markets already jittery as
central bankers try to push back on interest rate cut
expectations.
Futures on the Euro STOXX 50 STXEc1 and FTSE FFIc1
indices were both down more than 1% following losses across Asia
as well as British data showing inflation rose for the first
time in 10 months in December.
Contracts on the S&P 500 ESc1 , down 0.5%, also pointed to
a weaker start later in the day on Wall Street.
In corporate news, earnings were starting to trickle in.
Swiss building materials supplier Geberit GEBN.S was seen
falling around 2% at the open after it gave a gloomy outlook for
the construction sector and reported a 9.1% drop in 2023 sales.
Just Eat Takeaway TKWY.AS said it expects to report FY
adjusted core earnings above its previously announced target,
after a best ever quarterly performance in Northern Europe, the
UK and Ireland. Orders however missed expectations.
Renault RENA.PA posted an increase in its annual global
sales volumes, returning to growth after four consecutive years
of decline. Traders said Tesla's TSLA.O price cuts to its
Model Y cars in Germany could weigh on the sector.
Worldline WLN.PA was also one to watch after Reuters
reported the payments group had lined up bankers to advise on a
defence strategy in a bid to avoid a hostile takeover in the
wake of a share price slump. One trader called its shares up 1%.
British oil major BP BP.L named its interim chief Murray
Auchincloss as permanent CEO.
(Danilo Masoni)
*****
FOR WEDNESDAY'S OTHER LIVE MARKETS POSTS:
CHINA DATA UNDERWHELMS, ADDS TO RISK-OFF MOOD CLICK HERE
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
China GDP data shows feeble recovery China GDP data shows feeble
recovery https://tmsnrt.rs/3RTGy88
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>