European futures brush off data as Fed looms
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EUROPEAN FUTURES BRUSH OFF DATA AS FED LOOMS
European traders are gearing up for U.S. inflation figures, followed by a Fed policy decision later in the session, with futures barely moving after two closely-watched European data releases this morning.
EuroSTOXX50 STXEc1 futures are rising 0.5%, as are FTSE futures FFIc1 and DAX futures FDXc1.
UK GDP figures failed to move the dial much this morning, showing Britain's economic output was flat in April, while German inflation rose in May due to higher services prices, confirming preliminary data. The Fed is expected to hold rates held steady later, so the focus among investors will be on what the U.S. central bank signals about the likely outlook for interest rates later this year.
In the UK, life insurer Legal & General LGEN.L has announced a 200 million pound ($254.86 million) share buyback and said it will merge its investment units.
Italian energy company Eni has sold 10% of oilfield group Saipem SPMI.MI for 393 million euros ($421.96 million).
Belgian metal recycling group Umicore UMI.BR has issued a profit warning for 2024 becoming the latest supplier hit by the slowing electric vehicle market.
Further afield, market watchers are tracking developments with a U.S. ceasefire proposal in the Middle East, and in France, where the leader of the country's conservative Republicans on Tuesday called for an alliance between his party's candidates and Marine Le Pen's far-right National Rally.
(Lucy Raitano)
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