New York City
Monday, February 26, 2024
“THE CEO PUBLICATION owns both theceopublication.com and theceopublications.com websites"

Publication

European markets are retreating as investors await U.S. inflation data; J.D. Sports up 7%

European markets are retreating as investors await U.S. inflation data

September 15, 2021: -On Tuesday, European markets pulled back slightly as global investors awaited inflation data from the U.S., which could be informed the Federal Reserve’s timing for tapering its monetary stimulus.

The pan-European Stoxx 600 slid 0.25% in trade, with mining stocks dropping 1.8% to lead losses as all sectors decreased the negative territory except autos, which added 0.7%.

U.S. consumer price index readings for August are due at 1:30 p.m. London time and is expected to show inflation stateside to continue to run hot. The latest print comes after U.S. producer prices are leaping 8.3% on an annual basis in August, the most significant yearly increase since records began in November 2010.

On Tuesday, shares in Asia-Pacific were also mixed as investors looked ahead to the figures, tightening Chinese regulation also a key focus for investors in the region.

Stateside is stock index futures were changed in early premarket trade on Tuesday after the S&P 500 snapped a five-day losing streak to close out the session in positive territory.

Although House Democrats in Washington have proposed new tax hikes on individuals and corporations to finance a $3.5 trillion spending package.

Back in Europe, European Central Bank policymaker Isabel Schnabel said that the ECB is ready to act if inflation does not ease sooner as coming year, as expected.

The fallout from Brexit keeps rumbling on, with Britain once again on Monday threatening to unilaterally suspend the Northern Ireland protocol, a fundamental tenet of the withdrawal agreement, if the European Union does not budge on renegotiations to iron out implementation problems.

On Tuesday, In terms of individual share price movement, British retailer J.D. Sports climbed 7.1% in early trade to top the Stoxx 600 after reporting a sevenfold increase in first-half earnings.

“While the reopening and end of government support schemes could dent confidence in the future for many retail businesses, J.D. Sports should continue to benefit as demand for sneakers and athleisure is strong and will endure as a tailwind in the near term,” said Amisha Chohan, equity research analyst at Quilter Cheviot.

“It is no surprise that the group now expects profit before tax for the full at least £750m, compared to previous guidance of nearly £550m and a 25% beat against market expectations.”

At the bottom of the index, Allfunds Group decreased 4% after a share placement.

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.

Most Popular

Receive the latest news

Request for online magazine

Join Us

Advertise with us

meteroid vecrtor
Receive the latest news

Contact Us