Yahoo Finance FTSE closes flat but Wall Street bounces back as November rally looks to regain momentum
The FTSE 100 and European stocks finished mixed on Tuesday, struggling for most of the session ahead of the release of the week’s key EU inflation data.
The FTSE 100 (^FTSE) closed flat at 7,459 points while the CAC 40 (^FCHI) in Paris lost 0.2% to 7,248 points. In Germany, the DAX (^GDAXI) rose 0.1% to 15,984. The Stoxx 600 (STOXX) lost 0.3% after European Central Bank policymakers' comments dampened expectations of interest rate cuts next year.
Data on EU inflation is due on Thursday, with core inflation forecast at 3.9%, the lowest since the middle of last year.
Read more: Shop prices may rise again, say retailers as inflation threat looms
Across the pond, US stocks bounced back from a subdued start but gains were limited as investors remained cautious ahead of Federal Reserve officials' speeches that could offer some clues on the path of interest rates.
The Dow Jones (^DJI) rose 0.4% to 35,465 points. The S&P 500 (^GSPC) climbed 0.2% to 4,560 points and the tech-heavy NASDAQ (^IXIC) gained 0.3% to 14,278 points.
The Federal Reserve's favoured measure of inflation — personal consumption expenditures — is due on Thursday.
In Asia, the Hang Seng (^HSI) in Hong Kong tumbled 0.9% to 17,366 while the Shanghai Composite (000001.SS) rose 0.2% to 3,038 points. Tokyo’s Nikkei 225 (^N225) also finished in the red, slipping 0.1% to 33,408 points.
Read more: Trending tickers: Rolls-Royce | Novartis | EasyJet | Barclays
The Hang Seng was dragged lower by a 5.6% slump in shares of artificial intelligence software company Sensetime (80020.HK) following claims from short-seller Grizzly Research that the company was inflating its revenue figures.
Sensetime said the allegations were “without merit” and showed a lack of understanding of the company’s business and its financial reporting.
Meanwhile, oil prices rose amid expectations Opec+ would extend output cuts into next year.
West Texas Intermediate (CL=F) rose 2.6% and was trading at $76.707 per barrel. Brent (BZ=F) crude climbed 2.4% to $81.91 per barrel.
Watch: Earnings, Consumer Confidence, Fed remarks: What to Watch
Download the Yahoo Finance app, available for Apple and Android.
