European stocks higher; Fed speakers soothe nerves, BMW gains
Investing.com — European stock markets rose Tuesday, with investors returning their focus to potential central bank moves while keeping an eye on the conflict in the Middle East.
At 03:25 ET (07:25 GMT), the DAX index in Germany traded 1.2% higher, the CAC 40 in France climbed 1.2% and the FTSE 100 in the U.K. rose 0.8%.
A degree of calm has returned to global equity markets, with European indices rebounding after the previous session's losses, helped by relatively dovish comments by Federal Reserve officials which helped to settle nerves which had been frayed by the deepening conflict between Israel and the Palestinian Islamist group Hamas.
Fed Vice Chair Philip Jefferson said the central bank could «proceed carefully» in deciding whether any further increases are warranted, while Dallas Fed President Lorie Logan indicated rising Treasury yields could steer the Fed from further rate increases.
There are a number of Fed officials due to speak later Tuesday, ahead of the release of the minutes of the September monetary policy meeting on Wednesday and then Thursday’s U.S. CPI data.
Additionally, the IMF and World Bank annual meetings in Morocco get into full swing, with European Central Bank President Christine Lagarde set to make an appearance later in the session.
The economic data slate is pretty empty in Europe Tuesday, with the main release being the August Italian industrial production number.
This is expected to show an annual fall of 5.0%, a deterioration from the previous month’s 2.1% drop, an indication of the difficulties the region is having the day after the equivalent release added fuel to fears of a potential recession in Germany, the eurozone's largest economy.
However, there was some good news on the
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