European Stocks Set for a Lower Open
European equity markets were poised to open lower on Thursday as the global selloff in technology and artificial intelligence stocks deepened, while stronger-than-expected US inflation heightened concerns over further interest rate hikes. Investors shifted toward safe-haven assets, including government bonds, driving yields sharply lower across global markets. In Europe, attention will turn to UK GDP, French inflation and Eurozone industrial production data. On the corporate front, Swedish telecom giant Ericsson reported better-than-expected third-quarter earnings, supported by solid demand for mobile network equipment. French spirits maker Pernod Ricard also posted a smaller-than-expected sales decline last quarter, as growth in India helped offset persistent weakness in the US and China. Meanwhile, Finland’s Nordea Bank fell short of earnings expectations amid narrower lending margins. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures declined 0.9% and 0.5%, respectively.
European equity markets were poised to open lower on Thursday as the global selloff in technology and artificial intelligence stocks deepened, while stronger-than-expected US inflation heightened concerns over further interest rate hikes. Investors shifted toward safe-haven assets, including government bonds, driving yields sharply lower across global markets. In Europe, attention will turn to UK GDP, French inflation and Eurozone industrial production data. On the corporate front, Swedish telecom giant Ericsson reported better-than-expected third-quarter earnings, supported by solid demand for mobile network equipment.
French spirits maker Pernod Ricard also posted a smaller-than-expected sales decline last quarter, as growth in India helped offset persistent weakness in the US and China. Meanwhile, Finland’s Nordea Bank fell short of earnings expectations amid narrower lending margins. 5%, respectively.