Scenes of damaged buildings after Israeli attacks in the Laylaki and Haret Hireyk neighborhoods in the Dahieh district of Beirut, Lebanon, on October 1, 2024.
Hussam Shibarro | Anadolu | Getty Images
LONDON – European stocks ended lower on Tuesday, erasing early gains. Fear intensifies Iran may launch attack on Israel.
Pan-European Stoke 600 It temporarily closed down about 0.4%, with most sectors in negative territory. The European banking index led the decline, falling 2.2%.
European stocks were lower in afternoon trading after reports that the United States saw Iran preparing to launch a sanctions measure. Israel is about to come under ballistic missile attackA senior White House official told NBC News on Tuesday.
oil price Jumped More than 4% of people follow the news. international benchmark Brent Crude oil futures expiring in December were last up 4.2% at $74.73 a barrel, while U.S. crude futures were last up 4.2% at $74.73 a barrel West Texas Intermediate Oil Futures rose 4.5% to close at $71.22.
Israeli ground troops amid reports of possible Iranian attack Launch a ground attack Entering Lebanese territory. Israel last week killed Hezbollah leader Hassan Nasrallah in an explosion in Beirut, Lebanon. Hezbollah is an Iranian-backed militant group.
Eurozone inflation below ECB target
On the data front, Eurozone inflation fell below 2% Preliminary data on Tuesday showed that this was the first time since mid-2021, which may increase the possibility of another rate cut by the European Central Bank.
Inflation among the Group of 20 economies fell to 1.8% in September, according to Eurostat, below economists’ forecasts of 1.9% and down from August’s 2.2%.
Matthew Ryan, head of market strategy at financial services firm Ebury, said the document effectively “seals the deal” and that the European Central Bank will meet later this month to cut interest rates for a second consecutive 25 basis points.
“While President Christine Lagarde told the market at the last meeting that an October rate cut was not in the central bank’s baseline scenario, we believe macroeconomic data thereafter will most likely force the central bank to take action,” he said in a note. “It is expected that production may be reduced in December.
The regional data comes after preliminary coordinated German inflation data released on Monday showed the country’s consumer price index. It fell back to 1.8% in Septemberdown from 2% in August. According to a Reuters poll of economists, the figure was expected to be 1.9%.
Last week, preliminary data showed that unified inflation rates in France and Spain also plummet That’s below the European Central Bank’s September target of 2%.
stock trend
Take a look at the trend of individual stocks, the shares of German Chemical Group Covestro Abu Dhabi’s national oil company Adnoc rose 3.8% Agree to acquire for €14.7 billion ($16.3 billion).
Meanwhile, the British bakery chain Greggs It fell 5.2%, and sales growth showed signs of cooling.
Renault The stock fell 3%, extending losses in the auto sector in the previous session, as pressure on the industry mounted and competition from China intensified.
European stocks got off to a volatile start to October after closing lower in the previous session.
US stocks Stocks were lower on Tuesday as markets closely watched escalating tensions in the Middle East.
Investors also digested comments from Federal Reserve Chairman Jerome Powell, who said on Monday that the central bank was “Not on any scheduled route” When it comes to the next step in interest rate policy. He said that if the economy performs as expected, he expects to cut interest rates twice more this year, which is a quarter of a percentage point each time.
Asia Pacific market Tuesday’s close ended mixed, with markets in South Korea, Hong Kong and mainland China closed for public holidays. Mainland China will be closed for the rest of the week due to the Golden Week holiday.
