HawkInsight

  • Contact us
  • App
  • English

Europe markets gain after U.S. data indicates possible rate cuts, UK election in focus

European markets show positive movement. UK services and composite PMI data expected.

da-kuk/E+ via Getty Images London (UKX) +0.56% with parliamentary election in focus. Investors will be closely watching how the Labour Party can gather a majority vote, to replace the Conservatives after 14 years. Germany (DAX:IND) +0.23% Germany June construction PMI 39.7 vs 38.5 prior; Germany May industrial orders -1.6% vs +0.5% m/m expected France (CAC:IND) +0.51% France Construction PMI fell to a three-month low of 41 in June. Switzerland June CPI +1.3% vs +1.4% y/y expected; Switzerland June seasonally adjusted unemployment rate 2.4% vs 2.4% expected. Italy Construction PMI dropped to 46 in June. Retail sales in Slovakia rose by 5.2% Y/Y in May. Retail trade in the Czech Republic grew 4.4% Y/Y in May. Eurozone Construction PMI fell to 41.8 in June. The pan-European Stoxx 600 (STOXX) moved 0.29% higher, extending previous day gains with optimism after economic data for the U.S. reinforced prospects of Fed reducing interest rates this year. Coming up in the session: Traders are also bracing for the UK parliamentary election, with the results due only later in the evening. In the bond market, the U.S. 10-year Treasury yield was down 8 basis points to 4.35%. Germany's 10-year yield was up less than 1 basis point at 2.57%. U.K.'s 10-year yield was up 1 basis point to 4.18%. Currencies: (EUR:USD) (GBP:USD) (CHF:USD) ETFs: (EWG), (GF), (EWI), (EWQ), (FGM), (DAX), (FLGR), (FXB), (EWU), (FKU), (EWUS), (FLGB), (GREK)

Disclaimer: The views in this article are from the original author and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.

NewFlash
More