European markets open lower as economic uncertainty persists; UK politics in chaos

 

European markets opened negative on Thursday as investors assessed continuing economic uncertainty.

The Stoxx 600 index opened down 0.19%, and all sectors and major bourses opened lower. Financial services led the marginal losses, down 0.77%. Household goods and oil and gas flipped into the green within the first minute of trading, with oil and gas leading gains at 1.34%.

EUROPEAN MARKETS

TICKER	COMPANY	PRICE	CHANGE	%CHANGE
.FTSE	FTSE 100	6913.79	-11.2	-0.16
.GDAXI	DAX	12676.87	-64.54	-0.51
.FCHI	CAC 40 Index	6058.49	17.77	0.29
.FTMIB	FTSE MIB	21458.9	-13.21	-0.06
.IBEX	IBEX 35 Idx	7579.3	-4.3	-0.06

Regional markets closed slightly lower Wednesday afternoon as traders digested new inflation data for the U.K. and assessed rate hike expectations and recession fears.

Shares in the Asia-Pacific traded lower on Thursday on economic fears, while Nasdaq 100 futures fell on Wednesday night after surging Treasury yields ended a two-day rally for the major averages.

Political uncertainty continues in the U.K. this week. Prime Minister Liz Truss said she is “a fighter not a quitter” while addressing fellow lawmakers in the House of Commons yesterday but she is facing growing pressure to resign. Her ailing government was dealt another blow with the resignation of Home Secretary Suella Braverman.

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WED, AUG 17 202212:29 AM EDT

European markets: Here are the opening calls

European markets are heading for a negative open on Thursday as investors assessed continuing economic uncertainty.

The U.K.’s FTSE index is expected to open 37 points lower at 6,899, the German DAX down 106 points at 12,635 and the French CAC down 52 points at 5,988, according to data from IG.

Regional markets closed slightly lower Wednesday afternoon as traders digested new inflation data for the U.K. and assessed rate hike expectations and recession fears.

The U.K. reported a rise in the consumer price index to 10.1% Wednesday, matching the 40-year high posted by the Office for National Statistics in July. Food, energy and transport prices drove the increase.

On the data front in Europe, French business climate data for October is due. Earnings are due from Hermes, Kering, L’Oreal, Pernod Ricard, Vivendi, Akzonobel, ABB, Nokia and Volvo Group.