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European markets head for lower open as investors focus on data, Fed

Soegeefx AppsEU MarketEuropean markets head for lower open as investors focus on data, Fed

Holly Ellyatt

European markets are heading for a lower open Thursday as global markets focus on economic data from the region, and the latest signals from the U.S. Federal Reserve on inflation and interest rates.

On Wednesday, minutes from the Fed’s last meeting in December were released, showing the central bank remained committed to higher interest rates for “some time.” the minutes prompted U.S. markets to give up earlier gains in the trading session and U.S. stock futures were flat overnight.

European markets closed higher on Wednesday as inflation data from France and Germany indicated that consumer price increases across the euro zone are slowing.

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Brent crude futures rose 1.08% to $78.68 a barrel, while the U.S. West Texas Intermediate futures gained 1.19% to $73.71 a barrel.

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European markets: Here are the opening calls

European markets are heading for a lower open Thursday as investors gauge the latest inflation data from Europe and digest the latest minutes from the U.S. Federal Reserve.

The U.K.’s FTSE 100 index is expected to open 13 points lower at 7,570, Germany’s DAX 43 points lower at 14,446, France’s CAC down 25 points at 6,755 and Italy’s FTSE MIB down 99 points at 24,801, according to data from IG.

Data releases Thursday include euro zone producer prices for November and preliminary Italian inflation data for December. Germany’s export data for November is also set to be released. Earnings will come from Greggs.

— Holly Ellyatt

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