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European markets head for flat open as nervousness over the global economy dominates sentiment

Soegeefx AppsEU MarketEuropean markets head for flat open as nervousness over the global economy dominates sentiment

Holly Ellyatt

European markets are heading for a mixed open Thursday as investor nervousness continues over the state of the global economy and inflation.

The U.S. Federal Reserve is expected to issue a 50 basis point interest rate hike next week and while that would be a smaller increase than recent rate hikes, investors are increasingly concerned about whether the central bank can avoid a recession next year in its attempt to squash inflation.

U.S. stock futures were down slightly on Thursday morning following a fifth straight day of losses for the S&P 500 as Wall Street weighed the likelihood of a downturn.

Sentiment was more buoyant in the Asia-Pacific region overnight. Hong Kong’s Hang Seng index popped on Thursday, as a local news outlet reported the city is considering easing Covid measures further, including lifting its outdoor mask rule and relaxing mandatory testing for arrivals.

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The Wall Street bank predicted that two chip stocks could see their share prices rise by more than 75% on the back of that trend.

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Apple has held up better amid the tech carnage, although there have been some headwinds.

Two investors faced off on CNBC’s “Street Signs Asia” on Wednesday to make a case for and against buying the stock.

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European markets: Here are the opening calls

European markets are heading for a mixed open on Thursday with investor jitters continuing on recession concerns.

The U.K.’s FTSE index is expected to open 4 points higher at 7,493, Germany’s DAX 12 points lower at 14,249, France’s CAC down 8 points at 6,653 and Italy’s FTSE MIB down 37 points at 24,204, according to data from IG.

There are no major earnings or data releases.

— Holly Ellyatt

Source : CNBC

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