LONDON – European stocks are expected to open in negative territory amid nervousness over inflation, with the next reading of US inflation over the weekend.
The FTSE index in the United Kingdom is 39 points lower with 7,576, the DAX in Germany is 113 points lower with 14,540, the CAC 40 in France is 54 points lower at 6,502 and the FTSE MIB in Italy is 186 points lower with 24,346. according to GI data.
International markets are preparing for key U.S. data this week, including the latest inflation reading on Friday.
The US consumer price index for May in the US is expected to be slightly lower than in April, and some economists expect it to confirm that inflation has peaked.
The University of Michigan Consumer Sentiment Index, also available Friday, will also be closely monitored by investors.
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The UK’s negotiating session will be interesting to see on Tuesday amid political turmoil in the country. On Monday evening, UK Prime Minister Boris Johnson survived a vote of confidence by his own lawmakers amid growing dissatisfaction with his leadership.
Some 211 Conservative lawmakers voted in favor of the prime minister on Monday, while 148 voted against. Johnson needed the support of a simple majority of 180 deputies to win the vote, but the 148 figure was worse than many expected.
It is also worse than the result of a similar vote that former leader Theresa May faced in 2018. She resigned as prime minister just six months later.
It is a quiet day in terms of data and earnings in Europe, although the latest industrial order figures for Germany have yet to be released.
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