Futures signal rises in Europe as traders await U.S. inflation
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FUTURES SIGNAL RISES IN EUROPE AS TRADERS AWAIT U.S. INFLATION
European stocks are heading for a positive start to Wednesday ahead of key U.S. inflation figures later, with EuroSTOXX50 STXEc1 futures adding 0.2%, FTSE futures FFIc1 up 0.4% and DAX futures FDXc1 ticking 0.2% higher.
A bullish speech by Federal Reserve Chair Jerome Powell on Tuesday is still fuelling market optimism. Though inflation is the main topic of the day, major earnings are also keeping market players busy, and banks stand out.
Dutch bank ABN Amro ABNd.AS has beat first-quarter profit expectations and Germany's Commerzbank CBKG.DE has posted a better-than-expected 29% rise in first-quarter net profit.
But it's not all positive news. German conglomerate Thyssenkrupp TKAG.DE has cut its 2023/24 forecasts for sales and net profit for the second time in three months.
In the UK, first-half profit is up at cigarette maker Imperial Brands IMB.L, while catering firm Compass Group CPG.L has reported first-half profit slightly ahead of market view and upped its 2024 profit forecast. Britain's Burberry BRBY.L reported a 34% drop in annual operating profit on Wednesday.
(Lucy Raitano)
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