Home Stock Market European stocks inched up as markets looked at key US inflation data

European stocks inched up as markets looked at key US inflation data

European stocks were generally higher on Tuesday as markets observe key US inflation data coming out later in the day, with a firmer pound weighing on companies earning in dollars. la is listed in London.

Pan-European Stoxx 600
+ 0.26%

up 0.25% while London’s FTSE 100

just below flat. CAC 40
+ 0.27%

in Paris rose 0.35% and DAX of Frankfurt
+ 0.28%

0.25% increase.

Dow futures
+ 0.07%

are moving up around 30 points, which is set for a gentle but positive opening after falling 55 points on Monday to close at 33,745.40.

The US consumer price index for March is calculated at 8:30 am Eastern time. The data will be closely watched by investors, as bond yields soar higher amid inflation fears from continued fiscal stimulus have put constant pressure on stock markets.

Jim Reid, strategist at Deutsche Bank, said “This key US inflation indicator” has emerged as a major focal point for the market, amid debates surrounding inflation and its impact. it to monetary policy in the future ”.

“Indeed, part of the reason markets raised expectations for a Fed rate hike is due to rising inflation expectations they think the Fed may have to curb, given the US two-year breakeven in was 2,678% as of last night’s close, ”says Reid.

Data from China boosted the outlook for a global economic recovery, with the country reporting that March exports in dollar terms were up 30.6% year-on-year, while growing. imports increased by 38.1%, far exceeding expectations for a growth of nearly 24%.

Stakes in Air France-KLM

down more than 3.5%, after the airline group announced after the European market closed on Tuesday, it would issue 988 million euros ($ 1.18 billion) worth of shares as part of the project. Larger refinancing projects were announced last week. The shareholding of the French state will double with the stock issue, to nearly 30%, while China Eastern Airlines, which currently owns an 8.8% stake in the company, will invest up to 168 million. euro.

More: Air France-KLM is approved by the EU for a state aid of 4.7 billion USD

Share in Just Eat Takeaway.com
+ 2.62%

has grown by more than 2.5%, after the food delivery team said in a transaction update that orders for the first quarter of 2021 were up 79% from 2020 levels. Growth was particularly strong. in the UK, at 96%, where the company has invested in rivals Uber Eats and Deliveroo.

+ 1.70%

Shares rose 2%, as shares of a key equipment supplier to the semiconductor industry rebounded from a 2.5% drop in the previous session. The conglomerate reported on Monday that it had acquired about € 129 million of its own shares under a share repurchase program announced in January.

Slight strengthening of the pound has pushed shares of major UK consumer companies that trade in dollars down, with Unilever
Reckitt Benckiser
+ 0.03%
and British American Tobacco

is decreasing. Value of UK currency
+ 0.09%

It was almost 0.1% higher on Tuesday and more than 0.5% higher than Monday’s low.

Bitcoin price
+ 4.36%

surged to a new record on Tuesday, to above $ 62,000, as the market was poised for Coinbase’s buoyancy. The largest US crypto exchange will begin trading on the Nasdaq on Wednesday.

Read: Bitcoin set a new record, trading over $ 62,000



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