European shares start higher with eyes on Fed
On Monday, European stocks started higher, as traders turned their attention to the Fed’s upcoming policy gathering amid ongoing uncertainty over a probable rate lift.
During European morning trade, the EURO STOXX 50 tacked on 1.13%, French CAC 40 gained 1.30%. At the same time, German DAX 30 managed to grasp 0.83%.
Friday’s upbeat American inflation data drove fresh speculation over a potential American rate lift this month.
The US Commerce Department told that in August, the consumer price index edged up 0.2%, compared to hopes for a 0.1% revenue. Year-over-year, consumer prices added 1.1%, which is higher than hopes for a revenue of 1.0%.
Financial stocks traded mostly higher, as French lenders BNP Paribas along with Societe Generale earned up to 0.75% and 0.93% respectively. Meanwhile, German Commerzbank inched up 0.81%.
However, Deutsche Bank stocks tumbled 1%, still affected by the US Department of Justice’ demand to pay approximately $14 billion just to settle allegations of mis-selling mortgage securities.