Tuesday's opening of European stock markets is anticipated to be subdued as investors await regional industrial activity data and important company earnings.

Tuesday's opening of European stock markets is anticipated to be subdued as investors await regional industrial activity data and important company earnings.

The major European indexes had good increases in July, but the aggressive tightening of monetary policy by the European Central Bank to fight inflation has had an effect on regional growth.

The magnitude of this will probably be demonstrated by the manufacturing PMI statistics that will be made public by the eurozone and several of its countries, including Germany and the U.K.

Earlier today, data from the British Retail Consortium revealed that prices in U.K. retailers declined for the first time in two years in July, falling by 0.1% from June while annual inflation fell to 7.6% from 8.4% in June.

As it continues to combat the highest inflation rate among the major industrialised nations, the BoE will meet on Thursday and is largely anticipated to hike interest rates for the 14th successive meeting.

The biggest bank in Europe, HSBC, will be in the focus today after announcing a $2 billion share buyback. HSBC reported increased profit and revenue for the first half of 2023, mostly due to improved margins due to increasing interest rates.

Earnings are also due from the likes of Uber, Diageo, Pfizer, Starbucks, BP, and AMD.

The world's largest importer of crude oil, China, showed further indications of economic decline in Tuesday's private survey data, which caused oil prices to decline.

Despite this, both futures maintained their three-month highs due to indicators of tightening global supply and the implementation of output restrictions by key producers.

(Sources; investing.com, reuters.com)