European indexes mixed while investors read Fed rate cut clues

[Global Business Strategy on Digital Display]
Tom Werner

London (UKX [https://seekingalpha.com/symbol/UKX]) +0.31% to 9,326, marking a second straight session of gains, driven largely by strength in miners. UK's GDP stalled in July [https://seekingalpha.com/news/4494292-uks-gdp-stalled-in-july#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]. Manufacturing production in the UK dropped 1.3% M/M in July. UK construction output rose 2.4% Y/Y in July.

Germany (DAX:IND [https://seekingalpha.com/symbol/DAX:IND]) +0.01% to 23,703. Germany's inflation rises to 5-month high of 2.2% in August [https://seekingalpha.com/news/4494304-germanys-inflation-rises-to-5-month-high-of-22-in-august#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title].

France (CAC:IND [https://seekingalpha.com/symbol/CAC:IND]) -0.20% to 7,807. France's inflation rate decreased to 0.9% in August. [https://seekingalpha.com/news/4494308-frances-inflation-rate-decreased-to-09-in-august#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]

Spain's annual inflation rate remains unchanged at 2.7% in August [https://seekingalpha.com/news/4494313-spains-annual-inflation-rate-remains-unchanged-at-27-in-august#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title].

Industrial production in Hungary dropped to 1% Y/Y in July. Hungary’s construction output rose by 4.9% Y/Y in July.

The pan-European Stoxx 600 [https://seekingalpha.com/symbol/STOXX] (STOXX) [https://seekingalpha.com/symbol/STOXX] turned 0.02% lower to 555.3, marking a fifth straight session of gains as investors bet on a Federal Reserve rate cut next week. Meanwhile, the ECB signaled its rate-cutting cycle is over [https://seekingalpha.com/news/4494048-ecb-holds-rates-at-2-amid-global-uncertainty], with President Lagarde saying the bank is in a “good place” and that growth risks are now more balanced.

IN THE BOND MARKET, the U.S. 10-year Treasury yield was down 3 basis points to 4.04%.

Germany's 10-year yield was up 2 basis points to 2.67%.

UK's 10-year yield was down 1 basis point to 4.61%.

CURRENCIES: (EUR:USD [https://seekingalpha.com/symbol/EUR:USD]) (GBP:USD [https://seekingalpha.com/symbol/GBP:USD]) (CHF:USD [https://seekingalpha.com/symbol/CHF:USD])

ETFS: (NYSEARCA:EWG [https://seekingalpha.com/symbol/EWG]), (NYSE:GF [https://seekingalpha.com/symbol/GF]), (NYSEARCA:EWI [https://seekingalpha.com/symbol/EWI]), (NYSEARCA:EWQ [https://seekingalpha.com/symbol/EWQ]), (NASDAQ:FGM [https://seekingalpha.com/symbol/FGM]), (NASDAQ:DAX [https://seekingalpha.com/symbol/DAX]), (NYSEARCA:FLGR [https://seekingalpha.com/symbol/FLGR]), (NYSEARCA:FXB [https://seekingalpha.com/symbol/FXB]), (NYSEARCA:EWU [https://seekingalpha.com/symbol/EWU]), (NASDAQ:FKU [https://seekingalpha.com/symbol/FKU]), (BATS:EWUS [https://seekingalpha.com/symbol/EWUS]), (NYSEARCA:FLGB [https://seekingalpha.com/symbol/FLGB]), (NYSEARCA:GREK [https://seekingalpha.com/symbol/GREK])

MORE ON EUROPE

* EUR/USD Breaks Channel As Rate Cut Bets Ramp Up... Potential 370 Pip Rally Incoming? [https://seekingalpha.com/article/4820120-eur-usd-breaks-channel-as-rate-cut-bets-ramp-up-potential-370-pip-rally-incoming]
* The Second Inflation Mountain: Real Risk Or Overblown Fear? [https://seekingalpha.com/article/4819109-the-second-inflation-mountain-real-risk-or-overblown-fear]
* EUR/USD Price Steadies As Traders Weigh Politics And U.S. Data Risks [https://seekingalpha.com/article/4816909-eurusd-price-steadies-as-traders-weigh-politics-and-us-data-risks]
* France's inflation rate decreased to 0.9% in August [https://seekingalpha.com/news/4494308-frances-inflation-rate-decreased-to-09-in-august]
* Germany's inflation rises to 5-month high of 2.2% in August [https://seekingalpha.com/news/4494304-germanys-inflation-rises-to-5-month-high-of-22-in-august]