EUROPEAN EQUITY OPEN: Indices open lower as fears of aggressive Fed weighs on global equities

OPEN: European equities open lower, taking cues from the global macro landscape, where a hot US CPI report on Thursday raised fears of aggressive Fed monetary policy normalisation; Fed speaker Bullard fanned the flames of hawkishness in wake of the release, calling for aggressive rate hikes and raising the possibility of an intra-meeting move. After the red open, bourses have been paring back the initial losses.

INDICES: At 08:05GMT, Euro Stoxx 50 -0.9%, FTSE 100 -0.5%, DAX 40 -0.7%, CAC 40 -0.7%, FTSE MIB -1.0%, IBEX 35 -1.0%, SMI -0.6%. Tech underperforms on the threat of tighter monetary policy ahead. Defensives were performing better, but still red.

NOTABLE MOVERS:

Ipsen (IPN FP) +2.3%: Earnings.
ABN AMRO (ABN NA) -1.7%: Downgrade at JPM.
Alstom (ALO FP) -2.6%:
EDF (EDF FP) -2.7%: Confirms reports on new hires.
Naturgy (NTGY SM) -3%: Downgrade at JPM.
Saab (SAABB SS) -3%: Earnings.
Euronext (ENX FP) -3.5%: Earnings.
Volvo (VOLVB SS) -5.5%: Earnings.
Carl Zeiss (AFX GY) -6.5%: Earnings.

NOTE: Our full Newsquawk Daily European Equity Opening News (11/Feb) can be accessed here; additional European Equity News (11/Feb) can be accessed here.

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DAY AHEAD: FRIDAY FEBRUARY 11TH

10:10GMT/05:10EST: Italy 3yr, 7yr, 15yr, 20yr, 30yr BTP Auctions
10:30GMT/05:30EST: CBR Rate Decision
11:30GMT/06:30EST: India Deposit Growth (JAN/28), FX Reserves (04/FEB), Bank Loan Growth (JAN/28)
11:30GMT/06:30EST: Spain Consumer Confidence (JAN)
12:00GMT/07:00EST: Brazil IBC-BR Economic Activity (DEC)
12:00GMT/07:00EST: India Industrial Production, Manufacturing Production (DEC)
12:00GMT/07:00EST: Mexico Industrial Production (DEC)
12:00GMT/07:00EST: Russia CBR Press Conference
15:00GMT/10:00EST: US Fed Monetary Policy Report
15:00GMT/10:00EST: US Michigan Sentiment (FEB, Prelim)
15:30GMT/10:30EST: BoC Senior Loan Officer Survey
17:00GMT/12:00EST: ECB Survey of Monetary Analysts Aggregate Results
18:00GMT/13:00EST: US Baker Hughes Rig Count (11/FEB)