European markets open lower ahead of euro zone inflation data; Societe Generale jumps 8%
European markets opened lower on Thursday, as investors look ahead to the latest euro zone inflation data and consider the latest key earnings from the region.
The pan-European Stoxx 600 was last down 0.58% shortly after markets began to trade, with most sectors and major regional bourses starting the day in negative territory.
The closely watched preliminary euro zone inflation reading for October will inform the European Central Bank on the trajectory of expected interest rate cuts.
Flash economic data published Wednesday showed that the euro zone economy grew 0.4% in the third quarter of 2024, above the 0.2% rise expected by economists polled by Reuters.
There are more earnings Thursday with Shell, Stellantis, Maersk, AB Inbev and Carlsberg reporting.
Shares of Britain’s banks rose on Wednesday afternoon after it appeared the Labour government’s first budget in nearly 15 years would stop short of imposing a levy on the sector’s profits. Among a litany of tax rises announced to allow for more borrowing to boost investment, U.K. Rachel Reeves did not mention whether the government had plans to raise taxes on the country’s bank.
Source: CNBC
