European Stocks Steady Ahead of US & German Inflation Data
European stocks were flat as investors awaited key inflation data from the US and Germany for clues on the direction of interest rates and the health of both economies.
The Stoxx 600 was barely changed at 8:23 a.m. in London. Energy and property sectors led gains, while banks were the main drag. Shares of British banks—including NatWest, Lloyds, HSBC, and Barclays—weakened after a think tank suggested that Chancellor of the Exchequer Rachel Reeves could raise billions of pounds through a windfall tax on commercial banks.
Among the standouts, Rémy Cointreau SA was in the spotlight after the French cognac maker raised its profit outlook, predicting a smaller impact from US tariffs. The European benchmark index was on track to post one of its best August performances since 2021, buoyed by strong corporate profits and optimism about a Fed rate cut. However, concerns over the political landscape in France kept markets cautious. Meanwhile, French inflation eased again below the ECB's 2% target in August due to weakening service prices. The German CPI reading will be released later in the day, followed by the US PCE index—the Fed's preferred inflation measure. (ayu)
Source: Newsmaker.id
