European markets see another negative open as investors await inflation data
London - European stocks opened lower on Tuesday as investors gear up for the latest U.S. inflation reading on Wednesday.
The European Stocks 600 index opened 0.3% lower on Tuesday with the majority of sectors in negative apart from oil and gas stocks with the sector up 0.3%.
The U.K.’s FTSE index is opening 29 points lower at 7,167, France’s CAC 40 down 32 points at 5,964, according to data from IG.
The lower open for European stocks comes after a trading session at the start of the week, with markets closing lower Monday as investors prepare for more key inflation data out of the U.S. this week.
The June consumer price index is expected to show headline inflation, including food and energy, rising above May’s 8.6% level.
Market participants have been reflecting on a stronger-than-expected jobs report out of the U.S. last Friday which showed that the economic downturn worrying investors has not yet arrived.
It will be tested with a slew of U.S. earnings from major banks and the latest consumer inflation reading coming up this week.