European markets are heading for a negative open on Tuesday as investors in the region focus on the latest euro zone inflation data.
The U.K.’s FTSE 100 index is expected to open 40 points lower at 8,200, Germany’s DAX down 87 points at 20,123, France’s CAC down 33 points at 7,414 and Italy’s FTSE MIB down 172 points at 34,696, according to data from IG.
Traders will be keeping a close eye on preliminary inflation data for the euro zone in December, as well as the bloc’s unemployment rate in November.
Earnings are set to come from Next and Sodexo Tuesday, and data releases will include the U.K. Halifax house price index, French and Italian inflation figures and Italian unemployment data.
German inflation data released on Monday showed the country’s consumer price index rose to a higher-than-expected 2.9% in December. Analysts polled by Reuters expected a 2.6% reading.
Regional markets traded higher at the start of the week as investors assessed a media report suggesting U.S. President-elect Donald Trump’s tariff plan may not be as extreme as feared.
The Washington Post reported that Trump’s team is considering a plan to impose tariffs on all countries, but only on “critical imports,” although these were not specified. Trump later disputed the report in a Truth Social post.
Overnight, Asia-Pacific markets rose Tuesday, following Monday’s rally in technology shares on Wall Street that saw the S&P500 and Nasdaq Composite post back-to-back gains. U.S. stock futures slipped on Tuesday morning, however.