Markets brace for BoE cut, barrage of earnings
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MARKETS BRACE FOR BOE CUT, BARRAGE OF EARNINGS
European stocks are heading for a mixed start to Wednesday, as traders gear up for a potential rate cut from the Bank of England and a barrage of results out of the UK. Meanwhile, the Federal Reserve on Wednesday signalled a rate cut could arrive as early as September, as U.S. inflation continues to cool.
EuroSTOXX50 STXEc1 futures are losing 0.2%, while FTSE futures FFIc1 are up 0.33% and DAX futures FDXc1 are ticking 0.4% lower.
Eyes were on Meta's Frankfurt-listed stock, which rose 7.9% in early trading following some strong Q2 results.
In the UK, attention will be on major earnings including Barclays BARC.L which reported first half profit down 9% and announced an up to £750 million share buyback, and defence company BAE Systems BAES.L which upgraded its 2024 forecasts.
Aerospace engineer Rolls-Royce RR.L, Haelon HLN.L and London Stock Exchange Group LSEG.L have also reported.
Elsewhere, China's Caixin PMI shrunk in July, in line with official survey.
(Lucy Raitano)
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