UK News

European markets set to open flat after sliding in previous session


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.

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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.



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