Live Markets: Europe set for soft start ahead of US CPI

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13/02/2024 07:52

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    EUROPE SET FOR SOFT START AHEAD OF US CPI
    European shares were set to ease on Tuesday in cautious trading ahead of a highly watched
U.S. inflation report that could shape expectations around the Federal Reserve's next rate
decisions.
    EuroSTOXX50  STXEc1  and DAX  FDXc1  futures both fell around 0.3%, while FTSE  FFIc1 
contracts pared their gains after data showed British wages grew by more than forecast, which
nudged up the pound.
    US futures also pointed to a softer start later on Wall Street, following the Nasdaq's
retracement on Monday from near record levels. Investors are now the most bullish in two years,
BofA said, although it warned upbeat positioning may turn into a headwind.
    In European corporate news, earnings remained in focus. 
    Europe's largest travel operator TUI  TUI1n.DE  rose by 5% in early Frankfurt trade. It
reported better-than-expected numbers in Q1 as it swung to a profit on the back of robust travel
demand. Its board recommended that shareholders vote to ditch its London listing at Tuesday's
annual general meeting.
    Eyes were also on German hydrogen company Thyssenkrupp Nucera  NCH2.DE  as rising demand for
its electrolyser technology drove Q1 sales up by more than a third.        
    In more downbeat news, a profit warning from Siltronic  WAFGn.DE  sent shares in the chip
equipment supplier down 11% in early trade.
    Dutch recruiter Randstad's  RAND.AS  Q4 core earnings met market expectations, as solid
margin offset a drop in revenue.
    Over in the UK, good news for GSK  GSK.L , which got a buy rating from Citi for the first
time in seven years.
    
    (Danilo Masoni)
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