Stock markets in Europe are seen opening on weak note on Tuesday amidst anxiety ahead of the release of the FOMC minutes on Wednesday and the ECB Minutes on Thursday. Stocks in Asia declined despite Peoples Bank of China cutting the 5-year long prime rate by the most on record.
Wall Street was closed on Monday for a holiday. It had closed on a negative note on Friday, amidst hotter-than-expected producer price inflation readings from the U.S. for January. Nasdaq Composite had slipped 0.82 percent to close at 15,775.65 whereas the Dow Jones Industrial Average had dropped 0.37 percent to finish trading at 38,627.99.
Mixed sentiment prevailed in the European bourses on Monday. Switzerland’s SMI gained 0.78 percent. U.K.’s FTSE 100 added 0.22 percent. France’s CAC 40 finished flat. The pan-European Stoxx-50 edged down 0.05 percent whereas Germany’s DAX slipped 0.15 percent.
Current indications from the European stock futures indicate a negative sentiment. The pan-European Stoxx 50 Futures (Mar) has decreased 0.19 percent. The CAC 40 Futures (Mar) and the DAX Futures (Mar) have both slipped 0.16 percent. The FTSE 100 Futures (Mar) has edged down 0.08 percent. The SMI Futures (Mar) has however rallied 0.94 percent.
American stock futures are trading in negative territory. The US 30 (DJIA) is trading 0.33 percent lower, whereas the US500 (S&P 500) is trading 0.39 percent below the flatline.
Asian stock markets are trading on a mostly negative note. South Korea’s KOSPI has plunged 0.97 a percent. DJ New Zealand has tumbled 0.85 percent. Japan’s Nikkei 225 has dropped 0.10 percent. Australia’s S&P ASX 200 has edged down 0.08 percent. India’s Nifty 50 and Hong Kong’s Hang Seng are hovering close to the flatline. China’s Shanghai Composite is trading 0.14 percent higher.
The Dollar Index (DXY), a measure of the U.S. dollar’s strength relative to six currencies, has edged up 0.08 percent to 104.38, from the previous close of 104.29. The EUR/USD pair has dropped 0.09 percent to 1.0767, whereas the GBP/USD pair has decreased 0.09 percent to trade at 1.2582.
Gold Futures for April settlement is trading at $2,029.85, which is 0.02 percent higher than the previous close of $2,029.40.
Crude oil prices are trading mixed. Brent Crude Futures for April settlement slipped 0.05 percent to $83.52 whereas WTI Crude Futures for April settlement increased 0.23 percent to $78.40.
Bank of England’s Andrew Bailey as well as other officials are scheduled to attend the Treasury Select Hearing on the February Monetary Policy report. Also anticipated during the day is the Balance of Trade report from Switzerland and the position of current account surplus to be unveiled by the European Central Bank.
Major earnings updates due from the region include Aker, Barclays, Antofagasta, InterContinental Hotels Group, Fresenius Medical Care, Carrefour, First Quantum Minerals, Gerdau, Siegfried Holding, Enagas, Digitalbridge Group, Also Holding and The Navigator.
Business News
European Markets Seen Opening On A Weak Note
2024-02-20 06:44:32
