Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Stock Futures Lower; U.K. GDP Disappoints Ahead of Key U.S. Data

Stock MarketsApr 13, 2021 02:14AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Peter Nurse 

Investing.com - European stock markets are seen opening marginally lower Tuesday, weighed on by some patchy growth data out of the U.K. but generally cautious ahead of key U.S. inflation numbers.

At 3:15 AM ET (0715 GMT), the DAX futures contract in Germany traded 0.1% lower, CAC 40 futures in France dropped 1% and the FTSE 100 futures contract in the U.K. fell 0.2%. 

U.K. GDP grew just 0.4% in March, below the expected 0.6%, and still down 7.8% on the year, marking a slow recovery from the ravages of the coronavirus pandemic. 

This followed robust trade data out of China, suggesting the recovery in the world's second largest economy will continue to gather momentum as it emerges from the Covid-19-led slump.

Chinese exports grew 30.6% year-on-year in March, while import growth surged to the highest level in four years, jumping 38.1% year-on-year last month.

Europe also sees the release of the closely-watched German ZEW economic sentiment data later Tuesday, but most eyes Tuesday will be on the release of the U.S. consumer price index for March, due at 8:30 AM ET (1330 GMT). This is expected to show inflation increasing by 0.5% on the month, or 2.5% year-over-year, up from 1.7% in February.

Federal Reserve officials have said repeatedly that they are prepared to look through periods of inflation climbing above its 2% threshold without changing their accommodative policy stance, as they see these episodes as being temporary in nature.

However, the last time the annual headline CPI number was at 2.5% was in January 2020, before the Covid pandemic, and a figure significantly above this will certainly put the pressure on the Fed.

Back in Europe, the death toll across the continent from the Covid-19 virus passed the grim milestone of one million people on Monday.

In corporate news, Givaudan (SIX:GIVN) is likely to be in the spotlight after the Swiss company confirmed its mid-term targets after like-for-like sales rose 7.7% in the first quarter, helped by strong demand for its fragrance and beauty products. 

Airbus (PA:AIR) will also be in focus after the airline manufacturer announced a shake-up on Monday, with both its defense and technology chiefs set to step down and a new chief operating officer to be appointed.

Oil prices edged higher Tuesday, helped by the robust Chinese trade data, indicating continued economic recovery in the world’s largest crude importer,  and tensions in the Middle East after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites.

Attention Tuesday will also be on U.S. crude oil supply data from the American Petroleum Institute, due later in the day, with EIA supply data set to follow a day later.

U.S. crude futures traded 0.4% higher at $59.93 a barrel, while the Brent contract rose 0.4% to $63.55. 

Elsewhere, gold futures fell 0.4% to $1,726.50/oz, while EUR/USD traded 0.1% lower at 1.1898.

 

European Stock Futures Lower; U.K. GDP Disappoints Ahead of Key U.S. Data
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email