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EUROPEAN STOCKS PROPPED UP BY NOKIA, MINERS (0736 GMT)
European stocks are slightly lower ahead of U.S. data amid
worries about the Delta variant.
U.S. core inflation is due today and will likely have
significant implications for the success of the reflation trade
as an upside surprise in U.S. data might prompt the Fed to shift
in a hawkish direction.
But a sort of reflation trade seems still to be in action
with basic materials stock index among the winners up 0.6%.
The Stoxx 600 is down 0.1%.
The telecom stock index — which includes Nokia
shares — rises 0.5%, banks are up 0.2%.
Stocks in the telecom equipment maker are the best performer
in the Stoxx 600, up 6.2%, after the company said it planned to
raise its full-year outlook as business picked up pace in the
second quarter.
Shares in Dr Martens are up 5% after Goldman Sachs
raised its rating to ‘buy from ‘neutral’.
(Stefano Rebaudo)
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INFLATION SPOTTING (0709 GMT)
Markets are awaiting one of this year’s most important U.S.
data…
