European markets are expected to open lower this morning, as investors take stock of this weeks events. The FTSE 1001 index is anticipated to open 19 points lower at 5,952 points, while the German Dax is called to open 19 points down at 9,444 points and the French Cac is expected to fall 14 points to 4,225 points. This negative start follows on from the fall in both Asian shares on Friday morning and US stocks overnight.
Oil prices also came back under pressure after data on Thursday showed US crude inventories to have risen by 2.1m barrels last week, to a record high.
Investors will continue to look to Brussels, where Prime Minister David Cameron2 is hoping to strike a deal with the other 27 EU member states on the UK’s relationship with the EU.
Corporate news
- Allianz has reported a 5.8 per cent in full-year net profit to ‘ 6.99bn.
- Uber is losing $1bn in China every year, according to its chief executive.
- HSBC is launching voice recognition and touch security services in the UK.
Data
- 09:30: UK: Retail sales, January
- 09:30: UK: Public sector net borrowing, December
- 13:00 US: FOMC member Mester speech
- 13:30: US: Consumer price index, January
- 15:00: EU: Consumer confidence, February
References
- ^ FTSE 100 (www.cityam.com)
- ^ David Cameron (www.cityam.com)