Euro Area Industrial Production YoY

Euro Area Industrial Production MoM

Euro Area Labour Cost Index YoY Final

Euro Area Wage Growth YoY

The FTSE MIB Index dropped 0.7% to below 42,760 in early Tuesday trade, marking an end to its six-session winning streak. Traders turned cautious ahead of a two-day policy meeting of the US Federal Reserve, where a 25bps rate cut is widely expected. On the corporate front, financial stocks were among the primary drags on the index, with notable losses seen in Banca Monte dei Paschi di Siena (-1.8%), Mediobanca (-1.0%), UniCredit (-1.0%), Intesa Sanpaolo (-1.2%), and Banca Mediolanum (-1.3%). Meanwhile, the takeover bid for Mediobanca resumes today and will remain open until September 22, with further bids expected to push MPS's stake closer to 80% of Mediobanca. MPS currently holds a 62.3% stake Mediobanca.

FTSE MIB Snaps 6-day Win Streak

Israel's annual inflation eased for the second month to a over one-year low of 2.9% in August 2025, returning to the government’s target of 1%-3% for the first time since June 2024. It compares with July's reading of 3.1% and market forecasts of 2.8%. Lower fresh fruit prices, seasonal shifts in clothing and home goods, and the appreciating shekel were key factors behind the inflation slowdown. On a monthly basis, the CPI went up by 0.7% in August, after a 0.4% increase in July and slightly above analysts' estimates of a 0.6% rise.

Israel Inflation Rate Falls Below 3%, Reenters Target

Paris’s CAC 40 edged down 0.2% to 7,880 on Tuesday, pausing after a six-session winning streak that pushed the index to its highest level since August 22. Investor focus shifted to the US Federal Reserve’s two-day policy meeting beginning today, with markets broadly expecting a 25-basis-point rate cut—the first in nine months. Among individual movers, BNP Paribas slipped 0.2% despite reaffirming a bullish outlook, projecting net income above €12.2 billion by 2025 and targeting a 12% ROTE by 2026, supported by strong momentum and solid Q2 results. Kering gained 1.7%, Capgemini rose 0.8%, and Thales advanced 0.7%. On the downside, L’Oréal fell 2.3% after Jefferies downgraded the French cosmetics giant’s rating from “Hold” to “Underperform.” Bureau Veritas lost 1.9%, and Teleperformance eased 0.3%.

CAC 40 Edges Lower Amid Fed Meeting Watch

The British pound rose past $1.363, the highest since early July, as markets awaited a busy week of central bank decisions and UK data. The Bank of England is expected to hold rates at 4% on Thursday while slowing its £100 billion annual bond unwind. UK inflation for August, due Wednesday, is forecast at 3.8% y/y, matching July’s 18-month high, with retail sales to follow later. Latest jobs data showed wage growth excluding bonuses at 4.8% and 4.7% including bonuses, unemployment steady at 4.7%, and payrolls down 8,000, all in line with expectations. The figures indicate a gradually slowing labor market, leaving BoE rate-cut bets largely unchanged, with markets seeing only a one-in-three chance of a cut by December. Meanwhile, the US Federal Reserve is widely expected to deliver a 25 bp rate cut on Wednesday, with traders pricing in at least two more reductions by the end of 2025.

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