LONDON — European stocks are set for a sluggish open on Friday morning following a global sell-off on concerns about the economic recovery.
TICKER COMPANY NAME PRICE CHANGE %CHANGE VOLUME
.FTSE FTSE 100 FTSE 7030.66 -120.36 -1.68 741526246
.GDAXI DAX DAX 15420.64 0.00 0.00 0
.FCHI CAC 40 Index CAC 6396.73 0.00 0.00 110791273
The U.K’s FTSE 100 is set to open 4 points lower at 7,025, France’s CAC 40 is set to open lower by 4 points at 6,383 points, and Germany’s DAX is expected to rise by just 1 point to 15,402, according to IG.
The pan-European Stoxx 600 slid nearly 2% on Thursday, with retailers dropping 3.2% to lead losses as all sectors and major bourses slid deep into negative territory.
The plunge for Europe reflected negative sentiment in both Asia and the U.S. Investors also fled to the perceived safety of U.S. government bonds on Thursday, pushing the yield on the 10-year Treasury to its lowest level since late February.
On Friday, shares in Asia-Pacific fell on renewed Covid concerns. In Japan, the Nikkei 225 led losses among the region’s major markets as it fell 1.7% in afternoon trade, while the Topix index shed 1.48%.
Olympics organizers will ban spectators from the upcoming summer games in Tokyo, after a state of emergency in the city was declared by Japan on Thursday as the country sees rising Covid-19 cases. The state of emergency will last till August 22.
Back in Europe, G-20 finance ministers and central bank governors are meeting in Venice, Italy, to talk about tax and the economic recovery.
On the data front, there will be a May flash GDP figure for the U.K. and Bank of England Governor Andrew Bailey will speak at an OECD Global Forum on Productivity.
