Live Markets: European shares set to gain after heavy selling
10/05/2022 07:32
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EUROPEAN SHARES SET TO GAIN AFTER HEAVY SELLING: (0627 GMT)
European futures show stocks clawing black some of the last
week's steep losses, even as Asian shares slid to their lowest
level in two years overnight.
Futures for the pan-European STOXX index .STXEc1 and
German futures .FDXc1 are about 1.2% up while FTSE futures
FFIc1 are less bullish, 0.5% higher.
After four days of heavy selling, the STOXX 600 to its
lowest level since early March on Monday, while U.S. stocks also
plunged amid fears that the Fed's tightening policy won't be
enough to curb inflation. Asian shares continued the downward
slide, and commodity prices also declined on Monday.
In European company news, Philip Morris International is in
talks to buy rival Swedish Match urn:newsml:reuters.com:*:nL3N2X12Z1 and Italian energy
services group Saipem is working to bring forward a planned 2
billion euro ($2.12 billion) capital increase and carry it out
in the summer, CEO Francesco Caio told Italian newspaper Il Sole
24 Ore. urn:newsml:reuters.com:*:nL5N2X21AD
Ramifications of the conflict in Ukraine continue to
dominate, with German officials are preparing for any sudden
halt in Russian gas supplies with an emergency package that
could include taking control of critical firms urn:newsml:reuters.com:*:nL2N2X11OK.
(Lucy Raitano)
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