European markets set for lower open, struggle to keep hold of positive momentum

Holly Ellyatt@HollyEllyatt

LONDON — European stocks are expected to open lower on Thursday as regional markets struggle to find momentum in a turbulent week of trading.

The U.K.’s FTSE index is seen opening 44 points lower at 8,100, Germany’s DAX 130 points lower at 17,475, France’s CAC 40 down 48 points at 7,215 and Italy’s FTSE MIB 239 points lower at 31,713, according to IG.

The lower open anticipated in Europe today comes after regional stocks traded higher on Wednesday as global markets looked to rally after a rout at the start of the week. U.S. stocks also popped after Wall Street snapped a three-day losing streak, with investors looking to claw back losses suffered earlier in the week.

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U.S. futures dipped overnight as Wall Street sought to stabilize following several dramatic swings largely blamed on last Friday’s jobs report, which showed slowing employment growth. Traders will likely pay close attention to Thursday’s weekly jobless claims, searching for a potential rise in layoffs.

Asia-Pacific markets were mixed in choppy trading overnight after U.S. stock benchmarks fell, while investors assessed trade data from Japan and awaited India’s rate decision.

In Europe Thursday, earnings are due from Munich Re, Siemens, Allianz, Generali, Veon, Zurich Insurance, Persimmon, Deliveroo and Watches of Switzerland. There are no major data releases.

Source : cnbc