Kering Shares Rise 2% as Gucci Owner Delays Valentino Acquisition to 2028 Amid Mixed European Markets
European markets opened Thursday on a mixed note as investors awaited fresh guidance from the European Central Bank (ECB). The pan-European Stoxx 600 index hovered near flat in early trade, with no clear direction across major sectors or regional exchanges. France’s CAC 40, Italy’s FTSE MIB, and the UK’s FTSE 100 all posted modest gains, while Germany’s DAX slipped slightly. The cautious start reflected traders’ focus on the ECB’s latest economic projections for the euro area and the global economy.
One of the day’s standout performers was luxury powerhouse Kering, the parent company of Gucci. Its shares climbed 2% in early trading, making it one of the top movers on the Stoxx 600 index. The rally came even as Kering announced that its planned acquisition of Italian fashion house Valentino would be postponed until at least 2028. The delay, while unexpected, appears to have reassured investors that the group will maintain financial flexibility in the near term.
Market watchers are closely following the ECB’s decision on its key deposit facility, currently set at 2%. While no rate changes are expected, traders are eager for clues about the bank’s outlook for inflation, growth, and borrowing costs. Any shift in tone could ripple across European equities, particularly in rate-sensitive sectors such as banking, real estate, and consumer goods.
Across the Atlantic, U.S. futures signaled a flat open ahead of the release of August consumer price index (CPI) data. Economists surveyed by Dow Jones forecast a 0.3% monthly rise in CPI and a 2.9% annual gain, with the core index, excluding food and energy, expected to climb 3.1% year-over-year. The figures will be scrutinized for signs of easing inflationary pressures after the producer price index unexpectedly dipped 0.1% last month.
Asian markets also reflected the cautious optimism, with Japan’s benchmark Nikkei 225 setting a fresh record high overnight. The move followed a strong performance on Wall Street, underscoring how global investors are balancing corporate updates like Kering’s with central bank policies and inflation data that could shape markets in the months ahead.
source: cnbc