European markets flat ahead of U.S. inflation data
- Investors are looking ahead to fresh inflation readings in the U.S. in the next few days with the latest producer price index due Tuesday and the consumer price index slated expected on Wednesday.
- Earnings in Europe before the bell came from Bayer, Munich Re, Porsche, Direct Line Group, Salvatore Ferragamo and Associated British Foods.
LONDON — European stocks were muted on Tuesday morning ahead of a key reading of U.S. inflation data.
The pan-European Stoxx 600 hovered around the flatline in early trade, with autos gaining 0.8% while insurance stocks fell 0.5%.
Investors are looking ahead to fresh inflation readings in the U.S. in the next few days with the latest producer price index due Tuesday and the consumer price index slated expected on Wednesday.
Economists surveyed by Dow Jones are expecting producer prices to have risen 0.6% month over month in October. The consumer price index is also expected to show a 0.6% jump compared to the prior month.
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U.S. stock futures were fractionally lower during early premarket trading after the major averages closed at records, boosted by strength in infrastructure stocks while shares in Asia-Pacific were mixed in Tuesday trade following the gains on Wall Street.
Earnings in Europe before the bell came from Bayer, Munich Re, Porsche, Direct Line Group, Salvatore Ferragamo and Associated British Foods.
Primark owner AB Foods climbed 6.6% in early trade to lead the Stoxx 600 after strong results, while Danish hospital equipment maker Ambu dropped 4.6% to the bottom of the European blue chip index after its outlook missed expectations.
On the data front, German and French trade data for September are due Tuesday along with the results of Germany's ZEW survey of economic sentiment for November.
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— CNBC's Pippa Stevens contributed to this market report.
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