European Stocks Set to Rise 0.5%-0.7% as Siemens Unveils €6 Billion Buyback

1 articles · Updated · CNBC · May 13

IG data points to a higher Wednesday open across Europe, with the FTSE seen up 0.6%, the DAX 0.5%, the CAC 40 0.6% and Italy's FTSE MIB 0.7%.
Siemens helped lift sentiment after launching a €6 billion, five-year share buyback and reporting forecast-beating first-quarter net profit of €2.03 billion.
The rebound follows Tuesday losses driven by doubts over a quick end to the U.S.-Iran conflict and renewed pressure on U.K. Prime Minister Keir Starmer, whose leadership remains under strain after local election setbacks.
U.K. market stress persisted as the 10-year gilt yield rose as much as 10 basis points to 5.11%, while investors also tracked hotter-than-expected U.S. inflation and awaited April producer-price data.
Attention is also turning to a Trump-Xi meeting expected to cover trade and Iran, with broader risk appetite still tied to whether the fragile U.S.-Iran ceasefire holds.

As war costs climb and oil prices spike, is the stock market's optimism ignoring a looming global economic crisis?

Can China broker peace between the U.S. and Iran while being Tehran's most crucial economic and strategic partner?