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LIVE MARKETS-Europe: searching for direction

reuters.com · 11/11/2021 02:42
LIVE MARKETS-Europe: searching for direction

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EUROPE: SEARCHING FOR DIRECTION (0741 GMT)

European shares look set to start the day without clear direction as investors ponder the impact on policy and economic growth of the strongest U.S. inflation print in three decades.

Following weakness in Asia and losses on Wall Street overnight after the U.S. CPI for October came in stronger than expected, futures on main European benchmarks are trading between a fall of 0.1% and a gain of 0.2%.

Earnings continue to flow in abundantly. Here some of the main early headlines:

  • Siemens posts sales and orders beat during fourth quarter

  • Arcelor Mittal reports strongest quarter in more than a decade

  • RWE posts 9-month profit rise on trading, nuclear, coal

  • Delivery Hero sees 2021 revenue at higher end of outlook range

  • Generali profit beats consensus on strong life, asset management segments

  • Burberry's revenue rebounds from pandemic

Beyond results, Aker BP AKERBP.OL is also on the watchlist after a discounted share placement overnight that could send its shares down as much as 8%, while Renault RNLSY could also suffer after Daimler sold shares it holds in its French partner. nL8N2S20XO nL1N2S12E2

On a positive note, Goldman Sachs upgraded its 12-month STOXX 600 target to 530 points from 520 previously and compared to yesterday's close at 483.


(Danilo Masoni)

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