This is CNBC's live blog covering European markets.The FTSE 100 will be watched closely when markets open the latest U.K. data showed the inflation rate dropped sharply to 1.7% in September, according to the Office for National Statistics. The steep fall from the 2.2% print seen in August adds to expectations that the Bank of England will cut rates in November.
U.S. stock futures were calm Tuesday evening as Wall Street looked to see whether equities can be rebound to record highs this week; the S&P 500 and Dow hit all-time highs Monday. The earnings season continues, withwill be watched closed Wednesday after the Dutch chip firm published financial results a day early, issuing disappointing sales forecasts.Shoppers walk along the high street in Rochester, UK, on Tuesday, July 16, 2024.
UK inflation falls sharply to 1.7%, below Bank of England's target for first time in over three years Economists polled by Reuters had expected the headline rate to come in at a higher 1.9% for the month, in the first dip of the print below the Bank of England's 2% target since April 2021.Citi has named a little-known company as one of its its new"Top Pick," citing an"underappreciated" artificial intelligence story and attractive valuation.Nine out of the top 10 stocks with the most negative point impact on the Nasdaq 100 were chip names.