Oct. 14 at 6:51 PM
European stock markets reached a 2-week high on Monday, ahead of corporate earnings & a
$ECB policy decision later this week, while some investors remain cautious, after China's weekend stimulus pledges underwhelmed, which hit European luxury stocks. Shares of Gucci-owner Kering were down -4.43% by, while
$LVMH fell -2.43% & shares in Burberry -1.88% & Christian Dior -2.03%. Traders are pricing in a near 100% chance of a 0.25% rate cut this week, with another one likely in December. The main French stock market underperformed since credit ratings agency Fitch revised France’s outlook to "negative" from "stable" on Friday. Paris
$CAC 40 +0.32%, Frankfurt
$DAX +0.69%, after reaching a new all time high, Italian FTSE +1.09%, Spain’s Ibex +1.12% & London
$FTSE +0.47%. European STOXX 600 +0.53% at 524.76, with tech stocks up 1.7%, with utilities up over +1.2%. Travel & leisure stocks fell -0.8%.
