The bell is pictured at the Euronext Brussels Stock Exchange bell ceremony in Brussels on March 18, 2024.
Nicolas Maeterlinck | AFP | Getty Images
LONDON — European stock markets are expected to open in negative territory on Thursday as global inflation concerns continue to rattle markets.
According to IG data, the UK’s FTSE index is expected to open at 8,207, down 19 points, Germany’s DAX is expected to open 40 points down at 18,122, France’s CAC 40 down 13 points to 7,593 and Italy’s FTSE MIB down 92 points to 33,643.
Global market attention has shifted to the latest U.S. inflation data with the Federal Reserve’s key inflation gauge, the Personal Consumption Expenditures Price Index for May, due to be released on Friday. Investors are hoping the report will signal an easing in price pressures and solidify the possibility of the Fed cutting interest rates this year.
Asia-Pacific markets fell overnight as the Japanese yen fell to a 38-year low late Wednesday, to 160.82 yen against the U.S. dollar, according to FactSet data, while S&P 500 futures were slightly lower Wednesday night after rising for two straight days.
European data due for release on Thursday includes the latest consumer and business confidence in Italy and retail sales in Spain. EU leaders’ meetings start in Brussels on Thursday and the Bank of England will publish its latest Financial Stability Report.
