LIVE MARKETS-Before the bell: European futures soft; Inwit, aluminium stocks watched
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BEFORE THE BELL: EUROPEAN FUTURES SOFT; INWIT, ALUMINIUM STOCKS WATCHED
European shares were set for a weaker start on Monday as Middle East tensions escalated over the weekend, lifting oil prices ahead of euro zone March CPI data due on Tuesday, which will offer clues on how the conflict is feeding into inflation in the bloc.
EuroSTOXX50 and DAX futures eased by around 0.2%, though off Asian lows, while FTSE contracts and U.S. futures eked out a small gain. The pan-European STOXX 600 .STOXX is down 9.2% this month, on track for its biggest monthly decline since 2020.
German inflation data are due later on Monday.
On the stocks watchlist for Monday:
INWIT INWT.MI: Shares tumbled 6% on Tradegate after Telecom Italia TLIT.MI ended a long-term lease contract with the company, piling further pressure on Italy’s largest tower operator.
NORSK HYDRO NHY.OL: Aluminium stocks could attract bids after Iranian attacks over the weekend damaged the Middle East’s two largest producers, sending aluminium prices sharply higher.
CECONOMY CECG.DE: Regulatory clearance for its planned deal with Chinese e-commerce group JD.com 9618.HK remains uncertain in Austria, the company said, raising questions over whether the transaction can be completed in the first half of the year.
(Danilo Masoni)
EARLIER ON LIVE MARKETS:
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