LONDON – European stocks are expected to open mixed on Thursday as markets absorb the latest signals from the US Federal Reserve on rising interest rates.
The FTSE index of the United Kingdom opened 4 points lower at 7,526, the German DAX rose 7 points to 14,040, the French CAC rose 40 points 2 points 6,310 and the Italian FTSE MIB rose 39 points higher 24 234, according to IG data.
The expected cautious opening for European stocks comes after a higher close on Wednesday as global markets tried to recover from the widespread retreat in the previous session.
In the United States, shares rose on Wednesday after the minutes of the Federal Reserve meeting in May showed that the central bank is ready to raise interest rates further than the market expected.
The minutes of the Fed’s meeting on May 3-4 showed that employees see the need for a rapid rise in interest rates and probably more than the market price to quell recent inflationary pressures.
Asia-Pacific stocks fought for direction in trading on Thursday morning as investors reacted to the Fed’s minutes. U.S. stock futures were also mixed on Wednesday night as investors embraced the disappointing update from Nvidia, an economic leader in the technology industry.
This is the last day of the World Economic Forum on Thursday, ending an event in which global business and political leaders come together to discuss the world’s most pressing issues, with the war in Ukraine at the top of the agenda.
On Thursday, CNBC will interview the Bulgarian Prime Minister, the Vice President of Palantir, the CEOs of CEPI and Signify and others.
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