European markets are heading for a muted open Thursday, as investors digest a fresh round of corporate earnings and inflation figures from several major economies.
Britain’s FTSE 100 is seen around 9 points higher at 6,949, Germany’s DAX is set to gain around 12 points to 15,221 and France’s CAC 40 is expected to open around 6 points higher at 6,206, according to IG data.
Stocks in Europe are set for a mixed handover from Asia-Pacific, where Chinese markets declined on Thursday while those in Australia, Japan and South Korea advanced modestly.
Futures contracts tied to the major U.S. stock indexes inched higher Thursday morning, after the S&P 500 pulled back from its record highs during Wednesday’s regular session, with pressure on the tech sector offsetting upward momentum after several major banks reported strong earnings.
More high-profile first-quarter results are due Thursday, with Bank of America, Citi and PepsiCo all reporting.
The benchmark U.S. 10-year Treasury yield was hovering at around 1.6325% Thursday morning, ahead of the release of closely-watched weekly jobless claims figures and March retail sales data stateside, which are expected to offer further clues on the trajectory of the country’s economic recovery.
In coronavirus news, the U.S. Centers for Disease Control and Prevention panel decided Wednesday to postpone a decision on Johnson and Johnson’s Covid-19 vaccine following the development of a rare, but potentially life-threatening blood-clotting disorder in six women.
Governments around the world are trying to up the ante on vaccine rollouts as the proliferation of Covid-19 is “growing exponentially,” the World Health Organization warned on Monday.
Investors in Europe will be monitoring a host of March inflation data out of Germany, France and Italy on Thursday morning. Germany’s overall non-harmonized consumer price index came in at 0.5% on a monthly basis and 1.7% year-on-year.
Corporate activity is also in focus in Europe on Thursday, with L’Oreal set to report first-quarter earnings after the bell and Deliveroo to release its first-quarter trading update. Italy’s Unicredit holds its AGM and oil major Shell is set to publish its annual environmental, social and governance update.
