August 13, 2022

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European markets open to close, Fed minutes, data and earnings

European markets open to close, Fed minutes, data and earnings

LONDON – European shares are expected to open higher on Thursday, building on the gains made in the previous session.

United kingdom FTSE The index is expected to open 71 points higher at 7,166 points in Germany Dax 91 points higher in 12683, France CAC 40 Up 51 points at 5956, Italy FTSE MIB 137 points higher at 20,955, according to IG data.

European markets are poised to build on the gains seen on Wednesday, with the pan-European Stokes 600 Close at 1.7%. Technology, media and retail stocks rose more than 3% to lead gains as almost all major sectors and exchanges closed in positive territory.

Investors will be digesting the minutes of the latest Federal Reserve meeting, released on Wednesday, in which central bank officials reiterated a tough anti-inflation stance, saying another 50 or 75 point move would “likely be appropriate” at the July 26-27 meeting.

Federal Reserve officials realized that the “most restrictive stance” in policy It may be appropriate if inflation does not abate, even if it slows the economy, the meeting minutes said.

“Participants recognized that policy constancy could slow the pace of economic growth for some time, but considered that a return of inflation to 2% is critical to maximizing employment on a sustainable basis,” the document said.

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CNBC’s Jeff Cox contributed to this market report.