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European Shares To Drift Lower On US Policy Uncertainty

European stocks are poised to open lower on Tuesday on U.S. healthcare bill woes after two more Republicans opposed a revised version of the bill. Caution ahead of BOJ and ECB meetings due this week may also keep investors on the sidelines.

No big changes are expected from the European Central Bank and the Bank of Japan when they meet to review their monetary policies on Thursday.

The latest U.K. inflation data for June will be out today as the Bank of England faces a policy dilemma that is starting to split its monetary policy committee.

Meanwhile, Brexit minister David Davis met EU negotiator Michel Barnier for a second round of talks in Brussels on Monday, with key issues surrounding Britain’s withdrawal, including citizens’ rights and its exit bill, on top of the agenda.

Germany’s ZEW economic confidence survey results are slated for release later in the day, with economists expecting the headline index to fall to 18 in July from 18.6 in June.

Asian stocks are broadly lower, with apprehensions over prospects for reforms backed by U.S. President Donald Trump and concerns over further policy tightening in China weighing on markets.

The U.S. dollar extended losses while oil prices held stable after closing down over 1 percent overnight on signs of steady output from producers.

U.S. stocks ended narrowly mixed overnight ahead of a busy week of earnings from several big-name companies.

European markets also ended Monday’s session on a mixed note, with mining stocks among the best performers after China’s GDP data topped expectations.

The pan-European Stoxx Europe 600 index ended little changed with a positive bias. The German DAX dropped 0.4 percent and France’s CAC 40 index slid 0.1 percent while the U.K.’s FTSE 100 gained 0.4 percent.

by RTT Staff Writer

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