Reuters
Europe stocks on Tuesday hugged the flat line after two days of gains, supported by murmurings that fiscal policy could join monetary action in supporting the global economy.
Flipping between slight gains and losses, the Stoxx Europe 600 SXXP, +0.18% in mid-morning trade fell 0.1% to 373.76.
The German DAX DAX, +0.10% fell 0.1% to 11701.11, the French CAC 40 PX1, +0.27% was a touch lower at 5370.81 while the U.K. FTSE 100 UKX, +0.41% rose 0.3% to 7207.11.
U.S. stock futures ES00, +0.06% were slightly higher after a 250-point advance for the Dow Jones Industrial Average on Monday.
What’s moving markets
Talk of fiscal stimulus was once again in the air, as the Washington Post reported that White House officials have begun talking about a temporary payroll tax cut, while Italian Deputy Prime Minister Matteo Salvini called for a 50 billion euro “shock” stimulus ahead of a key speech from Prime Minister Giuseppe Conte. Italy’s FTSE MIB I945, -0.36% fell 0.3%.
Both proposals have a long way to go before becoming policy. A spokesman for Sen. Chuck Grassley, the Iowa Republican who leads the Senate Finance Committee, said he’s not discussed a payroll tax cut — and in any case, the Democrat-controlled House Ways and Means Committee also would need to support any legislation.
Focus stocks
AstraZeneca AZN, +1.73% AZN, +0.18% rose 1.5% after reporting that a late-stage trial of its Farxiga drug met its endpoint of significantly reducing the risk of cardiovascular death or worsening of heart failure.
French supermarket operator Casino Guichard-Perrachon CO, +4.27% climbed 3.8% as it said it’s planning to sell 2 billion euros of assets, having already sold 2.1 billion euros.
Pandora PNDORA, +8.02% shares rallied 5.1% in Copenhagen as the jeweler announced new restructuring measures after reporting a 50% profit drop in profit.
Add Comment