European stocks set for downbeat open after U.S. inflation data, tariffs fuel growth concerns
Dan Kitwood | Getty Images News | Getty Images
Good morning from London, and welcome to CNBC's live blog covering all the action and business news in European financial markets on Wednesday.
Futures data from IG suggests regional markets will start the week flat to lower, with London's FTSE 100 unchanged and both France's CAC 40 and Germany's DAX expected to open 0.2% lower. Italy's FTSE MIB is seen opening 0.35% higher.
The downbeat mood for regional markets comes after a difficult start to the week, after U.S. President Donald Trump announced last weekend that he would impose a 30% tariff on goods imported from the EU starting Aug. 1.
Hope that the bloc will negotiate a trade deal with the White House before the end of the month was outweighed Tuesday by global growth concerns after data showed U.S. inflation rose to 2.7% from 2.4% in June.
— Holly Ellyatt
The ASML logo is seen at its headquarters in Veldhoven, Netherlands, on June 16, 2023.
Piroschka Van De Wouw | Reuters
Earnings season is upon us, with ASML , Richemont and Handelsbanken announcing their latest financial results on Thursday.
On the data front, we have the latest U.K. inflation print for June and EU trade data.
— Holly Ellyatt
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