Lacklustre start in store for Europe
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LACKLUSTRE START IN STORE FOR EUROPE
European shares are set for a flat start to Tuesday as traders continue to digest the potential of future U.S. interest rate cuts while keeping an eye on an evolving geopolitical landscape.
EuroSTOXX50 STXEc1 are rising 0.02%, while FTSE futures FFIc1 are up 0.3% and DAX futures FDXc1 are ticking 0.05% higher. London markets were closed on Monday for a public holiday.
America's top general said on Monday that the near-term risk of a broader war in the Middle East has eased somewhat after Israel and Lebanon's Hezbollah exchanged fire without further escalation, but Iran still poses a significant danger as it weighs a strike on Israel.
Major earnings out today include London-listed mining giant BHP Group BHP.AX which has reported a better-than-expected 2% rise in annual underlying profit.
Traders are also looking ahead to results from Nvidia NVDA.O results due Wednesday, with the artificial intelligence chip giant likely to report that its second-quarter revenue more than doubled.
Elsewhere, Germany's statistics office reported on Tuesday that the German economy shrank by 0.1% in the second quarter of 2024, confirming preliminary data.
British shop prices fell in annual terms this month for the first time since October 2021, pushed down by summer sales of clothes and household goods, a survey showed on Tuesday.
(Lucy Raitano)
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