LONDON — European stocks are set to open mostly flat on Friday as concerns over monetary policy, the coronavirus and China’s tech crackdown linger.
The FTSE 100 is seen higher by 4 points, the DAX in Germany is set to slip by 33 points and the CAC 40 in France is seen up by 8 points, according to data from IG.
It comes as S&P 500 futures point to a flat open in the U.S. also.
Thursday’s trading was marked by volatility as investors digested news of a potential tightening in monetary policy this year and a deteriorating health situation as the delta Covid variant continues to spread. The pan-European Stoxx 600 ended the day 1.7% lower, while the S&P 500 managed to snap a two-day losing streak, finishing regular trading in the green.
Meanwhile, stocks in Asia’s trading session Friday were mostly lower after China left its benchmark lending rate unchanged. In addition, the tougher scrutiny over technology continues in China with a new data protection law approved on Friday.
Back in Europe, Germany’s finance minister said Friday the economy is on track for a lasting and strong recovery in the third quarter. There will be new growth figures for Germany out next week.
In corporate deals, the British supermarket Morrisons greenlit a takeover offer of 7 billion euros ($9.5 billion) from U.S.-based private equity group Clayton, Dubilier & Rice.
On the data front, there will be retail sales figures out in the U.K. at 7 a.m. London time, as well as public sector net borrowing numbers.