Tourists take photos in the rain in front of the Eiffel Tower in Paris.
Lionel Bonaventure | AFP | Getty Images
LONDON – European stocks are expected to open mixed on Tuesday as economic uncertainty and worries about Europe’s growth prospects once again come to the fore.
British FTSE German index expected to open 4 points higher at 8,253 German DAX Index France rose 23 points to 18,852 CAC 40 Up 19 points to 7,518 points, Italy FTSE MIB It rose 16 points to 33,610, according to IG data.
European stocks ended higher on Monday as investors assessed banking transactions and preliminary combined PMI data from Germany and France. Measures of business activity in manufacturing and services fell in September in Europe’s two largest economies and the wider euro zone.
Market participants will be keeping a close eye on Commerzbank shares on Tuesday after German Chancellor Olaf Scholz criticized UniCredit for “hostile” and “unfriendly” behavior toward the bank, Reuters reported. It fell about 5.7%.
His comments came shortly after Italy’s UniCredit announced it had increased its stake in the German bank to about 21% and submitted a request to increase its stake to 29.9%, signaling a possible move Tender Offer.
Asia-Pacific stocks climbed overnight, with China leading gains after Beijing announced a slew of policy easing measures in a rare briefing Pan Gongsheng, Governor of the People’s Bank of China, delivers a speech.
The People’s Bank of China will lower bank deposit reserve ratios by 50 basis points, but did not provide a specific timetable. It also announced measures such as lowering the seven-day reverse repurchase rate from 1.7% to 1.5%.
U.S. stock futures were little changed on Monday after the S&P 500 and the Dow Jones Industrial Average set new closing records.
The gains were modest, but appeared to be a continuation of gains after the Federal Reserve cut interest rates by half a percentage point last week. The federal funds rate currently ranges from 4.75% to 5.00%
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