European Stock Exchange Earnings Waiting for US Inflation Announcements

European indices showed mixed signs on Tuesday, with investors worldwide monitoring corporate earnings and expecting key data on US inflation to be released later this week.

The pan-European Stoxx 600 index closed with marginal gains, with technology stocks falling 0.9%.

On the individual boards, the German DAX index gained 0.24% to 15,242 points, the French CAC 40 added 0.27% to 7,028 points and the British FTSE 100 gained 0.08% to 7,567 points.

In the region, the Italian FTSE MIB climbed by 0.31% and the Spanish IBEX 35 rose by 1.36%.

French caregiver Orpea climbed almost 9% to the top of the Stoxx 600 after a long sell-off at low prices following allegations of ill-treatment of nursing home guests.

At the opposite end of the blue chip index, Ocado shares fell nearly 13% after disappointing results he announcedas the British internet and technology supermarket company, is not expected to meet analysts’ forecasts for 2022 profits, due to the larger investments in international technological activities, as stressed by the head of finance.

In other earnings news, oil and gas giant BP reported a huge increase in revenue throughout the year, the highest of the last eight years, supported by rising commodity prices. BP shares, however, lost more than 2%.

Markets are awaiting data from the US Department of Labor on the January Consumer Price Index, a week after the better-than-expected New Jobs report sent a signal that the US Federal Reserve could be more aggressive in raising interest rates, with analysts no longer ruling out a 50-point rise in US interest rates in March.

According to estimates, data on inflation in the US is expected to show that prices rose by 0.4% in January, and by 7.2% compared to a year earlier.

Bank of America said Monday that the Fed could implement seven rate hikes by a quarter of a percentage point this year.