Europe shares little changed at mid-session; ECB eyed
FTSE 100 unchanged; DAX up 0.35%; CAC 40 down 0.31% (Il Sole 24 Ore Radiocor) - Milan , 14 Oct - European shares were little changed in cautious midday trade, with the Stoxx 600 index down 0.06% after last week's volatile swings.
Global investors digested a crucial briefing on Saturday from China's Finance Minister, Lan Fo'an, who said that Beijing will introduce a package of targeted fiscal measures in the near future to boost the economy.
The European Central Bank is expected to ease monetary policy by 25 basis points once more as it meets on Thursday, after already cutting rates twice this year due to slowing economic growth and easing inflation pressures.
On the data front, German gross domestic product (GDP) is expected to fall slightly in the third quarter, marking the second consecutive quarter of decline and meeting the criteria for a technical recession, according to a statement from Germany's economy ministry. Indications about Germany's economic performance in the third quarter comes after the German government recently updated its forecast for GDP growth for the full year. It now expects GDP to decline 0.2% in 2024, instead of the 0.3% increase forecast in the spring.
The region's stock markets closed higher in the previous session as fresh inflation data and bank earnings from the US helped boost sentiment. Also lifting sentiment, US producer prices in September rose at a slower pace than in the previous month, signalling a continued easing in inflation.
At 1105 GMT the London FTSE 100 was unchanged at 8,253 points, the Frankfurt DAX was up 0.35% at 19,424 points, the Paris CAC 40 was down 0.31% at 7,554 points, while in Milan the FTSE MIB was up 0.44% at 34,460 points, and in Madrid the IBEX 35 was up 0.49% at 11,777 points.
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(RADIOCOR) 14-10-24 13:39:13 (0339) 5 NNNN