Live Markets: Europe before the bell: STOXX set for intraday record

Telefonaktiebolaget LM Ericsson

02/10/2025 07:33

Adds new blog entry

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

EUROPE BEFORE THE BELL: STOXX SET FOR INTRADAY RECORD

European stock markets look set to extend on Wednesday's healthcare-led gains on Thursday, with the pan-European STOXX 600 .STOXX likely to open at an intraday record.

STOXX 600 futures FXXPc1 are up 0.4% after the index jumped 1.2% on yesterday, its biggest daily rise since May. The index ended Wednesday at its highest closing level of all time.

Euro STOXX 50 futures STXEc1 are up 0.5% after it hit an intraday record the day before. Futures on the DAX FDXc1, CAC FCEc1 and FTSE FFIc1 are up 0.3%-0.4%.

Investors are shrugging off the U.S. government shutdown, with most analysts expecting the impact to be limited.

Instead, expectations that the Fed will cut rates again later this month supports risky assets after Wednesday's weak read out of the U.S. labour market from ADP.

In corporate news, Nokia NOKIA.HE and Ericsson ERICb.ST could be in focus after the FT said China is curbing the use of the kit in its networks.

British supermarket Tesco TSCO.L raised its full-year profit forecast, saying it benefitted from an unusually hot summer.

Italian luxury retailer Brunello Cucinelli BCU.MI posted a 12% increase in revenue in the third quarter and reiterated it operates within Russia in full compliance with EU regulations.

(Samuel Indyk)

*****

EARLIER ON LIVE MARKETS

DARKNESS FALLS ON DOUR US JOBS MARKET CLICK HERE

Monthly change in US private payrolls https://www.reuters.com/graphics/AUTOMATED-202509/ADP-JOBS-13M/dwpklbqyzvm/chart.png