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LONDON – European stocks are expected to open mostly flat on Friday, as concerns over monetary policy, the coronavirus and China’s technological crackdown persist.
The FTSE 100 is seen up 4 points, the DAX in Germany is expected to fall 33 points and the CAC 40 in France is seen up 8 points, according to IG data.
This comes as the S&P 500 futures point to a flat open in the US as well.
Thursday’s trading was marred by volatility as investors digested the news of a potential monetary policy tightening this year and deteriorating health conditions as the delta Covid variant continues to spread. The pan-European Stoxx 600 ended the day down 1.7%, while the S&P 500 managed to end a two-day losing streak, ending regular trading in the green.
Meanwhile, shares in the Asian trading session on Friday were mostly down after China left its key rate unchanged. In addition, tighter control over technology continues in China with a new data protection law approved on Friday.
Back in Europe, the German finance minister said on Friday that the economy was on track for a sustainable and strong recovery in the third quarter. There will be new growth figures for Germany next week.
UK supermarket Morrisons has given the green light in corporate deals for a € 7 billion ($ 9.5 billion) takeover bid from US private equity group Clayton, Dubilier & Rice .
On the data side, retail sales figures will be released in the UK at 7 a.m. London time, along with figures for net public sector borrowing.
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