European stocks may open higher on Thursday, tracking overnight positive lead from Wall Street and on earnings optimism.
However, with the continued surge in coronavirus cases in the Asian region denting hopes about a quick economic recovery, stocks may find it tough to get support at higher levels.
The focus will be on European Central Bank’s monetary policy announcement, due later in the day, and a slew of corporate earnings announcements.
Italy will release the data on industrial orders for the month of February today.
Reports on Netherland’s consumer confidence and unemployment rate are due out at 12:30 AM ET.
At 2 AM ET, data on Switzerland’s trade balance is due, while at 3 AM ET., a reading on Turkey’s consumer confidence is due.
Poland’s retail sales data for the month of March will be out at 4 AM ET. Ireland’s producer prices report is due for release at 6 AM ET.
In earnings news, Credit Suisse has reported a net loss of 252 million Swiss francs ($295 million) in the first quarter. The bank said the loss reflected a “significant charge with respect to the US-based hedge fund Archegos Capital matter in the first quarter, offsetting positive performance across wealth management and investment banking.”
The major European markets closed on a firm note on Wednesday. The pan European Stoxx 600 climbed 0.65%. The U.K.’s FTSE 100 ended 0.52% up, Germany’s DAX gained 0.44% and France’s CAC 40 moved up 0.74%, while Switzerland’s SMI advanced 1.17%.
U.S. stocks closed higher on Wednesday, rebounding after recent losses dragged the Dow and the S&P well off last Friday’s record highs. The Dow jumped 316.01 points or 0.9% to 34,137.31, the Nasdaq surged up 163.95 points or 1.2% to 13,950.22 and the S&P 500 advanced 38.48 points or 0.9% at 4,173.42.
Market Analysis
European Stocks Seen Opening Slightly Higher
2021-04-22 05:40:27
