The performance of European indices varied ahead of inflation data

European indices displayed mixed performance at the outset of trading on Tuesday, April 30, as investors kept a close watch on the earnings reports of European companies and banks, while also anticipating the upcoming US Federal Reserve meeting.

In trading, the STOXX600 index edged down by less than 0.1% to 507 points.

The German DAX also experienced a slight decline of 0.1%, settling at 18,098 points, whereas the British FTSE saw a modest uptick of 0.4% to 8,176 points. Meanwhile, the French CAC dipped by approximately 0.15% to 8,055 points.

HSBC Bank reported that its first-quarter profits and revenues surpassed analysts’ expectations, with profits reaching $12.7 billion.

Conversely, Volkswagen’s operating profits for the first three months of 2024 witnessed a decline of around 20% to 4.6 billion euros ($4.9 billion).

Market attention is now focused on the release of inflation data for the euro zone for April, expected later today, with forecasts indicating stabilization at 2.4%.

Additionally, all eyes are on the United States, where the Federal Reserve’s monetary policy meeting is set to commence later today. Market expectations suggest that the interest rate will remain unchanged when the monetary policy decision is unveiled.