European stocks mixed; economic data, central bank speakers eyed

Investing.com -- European stock markets traded in a mixed fashion Monday, as investors cautiously awaited key economic data, more corporate earnings and speeches from ECB policymakers.

At 06:45 ET (11:45 GMT), Germany’s DAX index was down 0.4% and France’s CAC 40 fell 0.3%, while the UK’s FTSE 100 rose 0.2%. Data, central bank speakers ahead

European equities have started the new week on a cautious note, with investors awaiting the release of key inflation and activity data to help guide future monetary policy.

The latest UK inflation data, due out on Wednesday, will be in the spotlight after data on Friday showed that the UK economy grew just 0.1% in the third quarter, missing expectations.

The eurozone is also set to release a final reading of inflation data on Tuesday and PMI data from across Europe is due out on Friday.

Ahead of that, investors will get the chance to hear from several regional central bank officials, including European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey. Market watchers will be on the lookout for any insights on the pace and scope of further rate cuts. Fed speakers anticipated

The outlook for US monetary policy is also in the spotlight, especially after hawkish remarks by Fed Chair Jerome Powell last week, emphasizing that there is no rush to loosen monetary policy

Futures indicate a 62% chance of a Federal Reserve rate cut next month, from around 80% at the start of last week.

At least seven Fed officials are slated to speak this week, with markets anticipating cautious commentary on the potential timing and pace of rate cuts.

Markets are also watching developments in the incoming U.S. administration. President-elect Donald Trump reportedly expanded his shortlist for Treasury Secretary, including former Fed Governor Kevin Warsh, billionaire Marc Rowan, Scott Bessent, and Howard Lutnick, reportedly Elon Musk’s preferred pick.

A Treasury choice focused on tariffs and debt-funded tax cuts could have significant implications for global trade and fiscal policy, influencing market sentiment. Nvidia results due

In the corporate sector, Melrose Industries (LON:MRON ) stock rose after the owner of aerospace parts maker GKN (LON:GKN ) Aerospace reported a 7% rise in revenue for the four-month period ended Oct. 31.

Attention this week will largely be on the results from AI bellwether Nvidia (NASDAQ:NVDA ) on Wednesday.  Oil prices rise amid supply and demand dynamics

Crude oil prices moved higher on Monday, supported by ongoing geopolitical risks in the Middle East and a tighter global supply outlook.

By 06:45 ET (11:45 GMT) Brent crude rose 0.6% to $71.45 per barrel, while U.S. crude (WTI) climbed 0.5% to $67.28.

Brent traded above $71, recovering some ground after last week’s 3.8% decline, with WTI edging closer to $67.

A stronger dollar and concerns over China’s oil demand tempered gains but were outweighed by supply concerns.

 

Source: Investing.com