Latest news with #HollyEllyatt
CNBC
a day ago
- Business
- CNBC
European stocks set to open higher as ECB widely expected to cut interest rates
The Euro Sculpture at Willy-Brandt-Platz in the financial district of Frankfurt, Germany, on March 6, 2025. Bloomberg | Bloomberg | Getty Images Good morning from London! This is CNBC's live blog covering all the action in European financial markets on Thursday. All eyes are on the European Central Bank, which is expected to announce a rate cut. Futures data from IG suggests London's FTSE will open 4 points higher at 8,802, Germany's DAX up 22 points at 24,276, France's CAC 40 unchanged at 7,804 and Italy's FTSE MIB 46 points higher at 40,123. The ECB's monetary policy decision is in focus for regional markets Thursday, with the central bank widely expected to trim interest rates by 25 basis points, taking its key rate, the deposit facility rate, to 2%. Expectations of a rate cut were cemented after flash data on Tuesday showed inflation in the euro zone hit a cooler than expected 1.9% in May. Read more here: The European Central Bank is almost guaranteed to cut rates. Here's what could happen next — Holly Ellyatt Traders work at the New York Stock Exchange on June 4, 2025. NYSE Asia-Pacific markets traded mixed and U.S. stock futures were near flat overnight with sentiment dented by U.S. data showing private sector hiring has hit its lowest level in over two years. Private sector payrolls rose by just 37,000 in May, coming in sharply below the Dow Jones forecast of 110,000 and raising investor worries about the softening job market and the impact on the economy. Those concerns weighed on the major averages during the session, too. Still, the market's recent gains — which have been powered by a surge in technology stocks — coupled with a blowout first-quarter earnings season, have revived sentiment on Wall Street. Nevertheless, investors remain cautious that more pain could be ahead in light of the Trump administration's tariffs. — Holly Ellyatt, Pia Singh
CNBC
2 days ago
- Business
- CNBC
European markets set to open higher, shrugging off Trump's 50% metals tariffs
Bank of England and the Royal Exchange in the City of London on 24th March 2025 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images Good morning from London. This is CNBC's live blog covering all the action in European financial markets on Wednesday, as well as business news, analysis, earnings and data. Futures data from IG on Wednesday morning suggests London's FTSE will open 6 points higher at 8,788, Germany's DAX up 56 points at 24,135, France's CAC 40 up 20 points at 7,780 and Italy's FTSE MIB 60 points higher at 40,155. U.S. tariffs are once again in focus on Wednesday after President Donald Trump said last week that he will double tariffs on steel imports from 25% to 50% on June 4. The European Union criticized the hike, saying such a move "undermines" its trade deal negotiations with the U.S. An EU spokesperson said that the bloc was "prepared to impose countermeasures." Nonetheless, analysts say European steel buyers and some manufacturers could benefit from the higher metals tariffs as they could put downward pressure on steel prices in the region. — Holly Ellyatt People walk in front of the Polish Central Bank (NBP) in Warsaw, Poland, September 25, 2023. Kacper Pempel | Reuters It's a quiet day for earnings and data, although Spanish and Italian services purchasing managers' index data, which measures activity in the sector, will be released. Poland's central bank will also be announcing its latest monetary policy decision on Wednesday. — Holly Ellyatt Asia-Pacific markets advanced overnight, boosted by a tech rally on Wall Street that was led by chipmaker Nvidia on Tuesday. Shares in the artificial intelligence darling advanced nearly 3%, extending Monday's gains and driving Nvidia's market cap past Microsoft's for the first time since January. Chip companies Broadcom and Micron Technology rose more than 3% and 4%, respectively. President-elect Lee Jae-myung arrives to attend a public vote count broadcast event hosted by the Democratic Party near the National Assembly in Yeouido, Seoul, South Korea, on June 4, 2025. Nurphoto | Nurphoto | Getty Images South Korean markets also rose overnight as opposition party leader Lee Jae-myung won the presidential election. Meanwhile, U.S. stock futures were little changed early Wednesday after the S&P 500 notched a second straight day of gains. The recent comeback rally has investors increasingly confident stocks have turned a corner on tariffs, especially after a series of reversals from President Donald Trump convinced traders the White House is mainly wielding high levies as a negotiating tool. A federal court striking down Trump's tariffs just last week added to hopes the market has priced in the worst of the tariffs, though they were later reinstated temporarily by an appeals court. — Holly Ellyatt, Sarah Min and
CNBC
3 days ago
- Business
- CNBC
European markets are set to open higher ahead of flash inflation data
London was the No. 2 most-visited city in the world for 2023, according to Euromonitor International. Karl Hendon | Moment | Getty Images Good morning from London, welcome to CNBC's live blog covering all the action in European financial markets, as well as business news, analysis, earnings and data. Futures data from IG on Tuesday morning suggests London's FTSE will open 6 points higher at 8,787, Germany's DAX 42 points higher at 23,984, France's CAC 40 up 6 points at 7,741 and Italy's FTSE MIB up 106 points at 40,073. The specter of U.S. tariffs has returned to the fore for markets this week, after President Donald Trump said Friday that he will double tariffs on steel imports from 25% to 50% on June 4. Investors will also be monitoring any developments in trade talks between the U.S. and China, which soured last week. National Economic Council Director Kevin Hassett suggested Sunday that Trump and China's President Xi Jinping could have a conversation as soon as this week — Holly Ellyatt A cafe bar near the Eiffel Tower on Oct. 5, 2020, in Paris, France. Kiran Ridley | Getty Images News | Getty Images Investors in Europe will be keeping a close eye on the latest inflation data from the euro zone. Flash data from the single currency area is expected to show inflation cooled toward 2% in May, paving the way for the European Central Bank to deliver a widely expected 25 basis point rate cut at its next meeting on Thursday. Euro zone inflation was unchanged at 2.2% in April, missing expectations for a move lower. — Holly Ellyatt Traders work on the floor of the New York Stock Exchange on June 2, 2025. NYSE U.S. stock futures slipped on Tuesday morning after the major averages began June's trading on a positive note. In the regular session, the S&P 500 climbed 0.41%. The Nasdaq Composite advanced 0.67%, and the Dow added 35.41 points, or 0.08%. Stocks ended Monday higher despite rising tensions between China and the United States, with Beijing countering President Donald Trump's accusations that it had violated a temporary trade agreement. Investors had grown hopeful that the two countries could work out a trade deal, but this latest development points to negotiations taking a turn for the worse. Meanwhile, Asia-Pacific markets mostly rose overnight after China's manufacturing activity in May shrank at the fastest pace since September 2022, a private survey showed. The Caixin/S&P Global manufacturing purchasing managers' index came in at 48.3, missing Reuters' median estimate of 50.6 and dropping sharply from 50.4 in April, as a sharper decline in new export orders highlighted the impact of prohibitive U.S. tariffs. — Holly Ellyatt, Amala Balakrishner and Lisa Kailai Han
CNBC
22-05-2025
- Business
- CNBC
Europe set to follow global markets lower amid fears over U.S. deficit; EasyJet earnings ahead
London was the No. 2 most-visited city in the world for 2023, according to Euromonitor International. Karl Hendon | Moment | Getty Images Good morning from London and welcome to CNBC's live blog covering the latest action in European markets as well as business news, analysis, earnings and data. Here are the opening calls on Thursday: European markets are expected to open lower, with London's FTSE seen opening down 43 points at 8,739, Germany's DAX 135 points lower at 23,984, the French CAC 40 down 48 points at 7,865 and Italy's FTSE MIB down 251 points at 40,331, according to data from IG. — Holly Ellyatt EasyJet passenger aircraft on the tarmac at London Southend Airport in Southend-on-Sea, U.K., on May 3, 2024. Bloomberg | Getty Images There are a couple of big earnings reports and data releases to look out for on Thursday: Earnings are set to come from EasyJet , BT, British Land and Tate and Lyle on Thursday. Preliminary purchasing managers' index data will be released for France and the U.K. CNBC will also be bringing you interviews from the Barclays leadership conference, focusing on energy, geopolitics and sector-specific challenges. — Holly Ellyatt Traders work on the floor of the New York Stock Exchange on May 21, 2025, in New York City. Spencer Platt | Getty Images European markets are expected to follow their global counterparts lower on Thursday as concerns grow over the U.S.' deepening budget deficit. Asia-Pacific markets fell overnight, tracking declines on Wall Street as investor sentiment soured on fears that a new U.S. budget bill could substantially add to the country's debt. U.S. stock futures were flat in overnight trading after markets stateside saw a sizable sell-off Wednesday as worries about a ballooning deficit deepened. In regular trading, the blue-chip Dow slid more than 800 points, while the S&P 500 finished the day 1.6% lower. Equities were pressured by a sharp spike in Treasury yields amid concerns that a new U.S. budget bill would put even more stress on the country's already large deficit. The rocky negotiations on Capitol Hill over tax and federal budget changes have become a fresh worry for investors after tariff headlines subsided. — Holly Ellyatt, Yun Li, Lee Ying Shan
CNBC
21-05-2025
- Business
- CNBC
European markets set to open flat to lower; UK inflation data ahead
London at dawn. Dukas | Universal Images Group | Getty Images Good morning from London and welcome to CNBC's live blog covering the latest action in European markets as well as business news, analysis, earnings and data. Here are the opening calls on Wednesday: European bourses are expected to open around the flatline, with London's FTSE seen opening 5 points higher at 8,781, Germany's DAX 1 point higher at 24,012, the French CAC 40 down 5 points at 7,933 and Italy's FTSE MIB down 27 points at 40,548, according to data from IG. — Holly Ellyatt British supermarket Marks & Spencer boosted pay for its frontline workers, such as shop assistants, by 15% from April 5 to May 31. Chris Ratcliffe | Bloomberg via Getty Images Here are a few things for investors to look out for on Wednesday. Earnings reports are set to come from M&S , SSE , Currys and JD Sports . On the data front, U.K. inflation figures for April will be published at 7 a.m. London time. We'll bring you the numbers and quick analysis on the data then. — Holly Ellyatt
