- June 7, 2024
- By: Admin1_blog
- EU Market, Indices
Katrina Bishop@KATRINABISHOP
KEY POINTS
- European stocks looked set to open relatively flat on Friday, after closing at a record high during the previous session.
- The pan-European Stoxx 600 ended Thursday at 524.75 points — just above its previous record close on May 15, according to LSEG data.
- It comes after the European Central Bank cut interest rates for the first time since 2019 on Thursday, in a widely expected move, despite nagging inflationary concerns.
LONDON — European stocks looked set to open relatively flat on Friday, after closing at a record high during the previous session.
It comes after the European Central Bank cut interest rates for the first time since 2019 on Thursday, in a widely expected move, despite nagging inflationary concerns. It takes the key bank rate in the 20-nation euro zone to 3.75%, down from a record 4%.
The U.K.’s FTSE 100 is the only major market that looks set to open in the green, with IG data indicating a 10-point rise.
Germany’s DAX, meanwhile, is called 25 points lower, France’s CAC 40 looks set to slip 7 points, Italy’s FTSE MIB is seen down 55 points and Spain’s IBEX is called 10 points lower.
EUROPEAN MARKETS
| TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|
| .FTSE | FTSE 100 | 8285.34 | 38.39 | 0.47 |
| .GDAXI | DAX | 18652.67 | 0 | 0 |
| .FCHI | CAC 40 Index | 8040.12 | 0 | 0 |
| .FTMIB | FTSE MIB | 34834.3 | 326.46 | 0.95 |
| .IBEX | IBEX 35 Idx | 11444 | 0 | 0 |
That comes after the pan-European Stoxx 600 ended Thursday at 524.75 points — just above its previous record close on May 15, according to LSEG data.
Thursday was also a big day for politics in the region, as Europe-wide elections got underway. Exit polls from the Netherlands indicate a narrow win by left-wing parties in the country, with eight seats for the Labour/Green Left combination.
Closely behind was Geert Wilders’ anti-immigration party, which looks set to have won seven seats. It marks a stark turnaround for the PVV, which, although it won the country’s national election last year, failed to win any seats in the last EU election.
Around 400 million people across the European Union will vote for members of the European Parliament over the next few days. The last polls close on Sunday, with provisional results due later that evening.
Elsewhere, Asia-Pacific stocks were mixed on Friday as investors considered Chinese economic data and pay numbers from Japan.
U.S. stock futures, meanwhile, were relatively flat, with all three major averages on.
Source : cnbc
