European Shares Slip Into Red Ahead Of Key Inflation Reading
(RTTNews) - European stocks declined on Tuesday after surging sharply in the previous session following reports that the incoming Trump administration may explore softer-than-expected tariffs.
Later, U.S. President-elect Donald Trump called reports about him considering scaling back his tariff plans, "fake news," adding to the uncertainty.
The pan European STOXX 600 was down 0.3 percent at 511.67 ahead of key euro zone inflation reading due later in the day.
The German DAX was marginally lower, France's CAC 40 was little changed with a positive bias and the U.K.'s FTSE 100 dropped 0.4 percent.
The European Central Bank's next meeting is due on Jan. 30, with markets currently expecting the central bank to ease interest rates by around 100 basis points in the first half of 2025.
The eurozone consumer inflation index is expected to have risen 2.4 percent in December on an annual basis, up from 2.2 percent in November.
France's annual inflation rate remained steady in December, data showed earlier today, paving the way for the ECB to cut rates again later this month.
Elsewhere, U.K. house prices registered an unexpected monthly drop of 0.2 percent in December, in contrast to the 1.2 percent increase in November, mortgage lender Halifax said.
In corporate news, Sodexo SA slumped 6.6 percent in Paris. The French food services and facilities management firm reported a nearly 5 percent rise in its first-quarter organic revenue, missing market expectations.
Next Plc shares rose nearly 3 percent. The high street retailer reported strong Christmas sales and raised its profit guidance for 2025.
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