European stock markets are expected to open on a mixed note today, as investors await the release of the euro zone’s consumer price index (CPI) data for June. The highly anticipated inflation report is expected to influence the European Central Bank’s (ECB) decision on interest rates.
According to IG data, the UK’s FTSE 100 index is forecast to open 19 points lower at 81,587, while Germany’s DAX is expected to dip by 31 points to 18,288. France’s CAC 40 is seen opening 9 points lower at 7,566, and Italy’s FTSE MIB is predicted to rise by 8 points to 33,891.
Economists predict the euro zone’s CPI to ease to 2.5% in June from 2.6% in May, according to a Reuters poll. Meanwhile, the British Retail Consortium reported a significant drop in UK shop price inflation to 0.2% in June, the lowest level since October 2021.
In other news, the Ifo Institute reported a slight deterioration in the business climate in Germany’s automotive industry, while British grocery chain Sainsbury’s announced a 3% increase in sales in its first-quarter trading statement.
Asian markets mostly declined overnight, diverging from Wall Street’s positive trend, where the Nasdaq Composite reached a new record high driven by tech stocks. US stock futures remained relatively unchanged ahead of the market opening.
