Europe set to bounce back
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EUROPE SET TO BOUNCE BACK
European shares were set to rise at the open on Monday as gains in Wall Street futures pointed to a stabilisation in markets following last week's widespread losses on concerns over a cooling U.S. labour market and slowing economy.
EuroSTOXX50 and FTSE futures rose 0.4 and 0.6%, respectively shortly before the bell, with traders turning their immediate focus to this week's European Central Bank meeting, at which the bank is expected to cut rates for a second time.
The region-wide STOXX 600 .STOXX lost over 3.5% last week, logging its biggest weekly decline since March 2023.
Contracts on the S&P 500, meanwhile, added 0.4%, and shares in Asia declined, catching up with Friday's drop on Wall Street.
In corporate news, activist investor Cevian lifted its stake in Baloise Holding BALN.S to 9.4%, increasing its ability to force changes at the Swiss insurer.
Concerns over slowing demand for luxury goods in the big Chinese markets lingered. Barclays and RBC both cut their ratings on Paris-listed Kering PRTP.PA, bringing them, respectively, to underweight and sector perform.
(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
CHINA STILL BUSY EXPORTING DISINFLATION CLICK HERE
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