{"id":11139,"date":"2021-06-24T05:28:33","date_gmt":"2021-06-24T05:28:33","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/06\/24\/european-shares-set-for-muted-open\/"},"modified":"2021-06-24T05:28:33","modified_gmt":"2021-06-24T05:28:33","slug":"european-shares-set-for-muted-open","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/06\/24\/european-shares-set-for-muted-open\/","title":{"rendered":"European Shares Set For Muted Open"},"content":{"rendered":"
<\/div>

\n<\/p>\n

\n

European stocks may open higher on Thursday despite two Fed officials predicting that a period of high inflation in the U.S. may last longer than expected. <\/p>\n

Atlanta Fed President Raphael Bostic and Fed Governor Michelle Bowman both said that “temporary” inflation may take longer than anticipated to fade. <\/p>\n

Dallas Fed President Robert Kaplan, who has penciled in an interest-rate increase next year, said in an interview with Bloomberg News that the economy<\/span> will likely meet the Fed’s threshold for tapering asset purchases sooner rather than later. <\/p>\n

Asian markets<\/span> struggled for direction after the WHO warned that the Delta variant of the coronavirus now reported in 85 countries is expected to become a “dominant lineage”.<\/p>\n

Investor focus also shifted back to U.S.-China relations after the Biden administration ordered a ban on U.S. imports of a key solar panel material from a Chinese company over alleged human rights abuses. <\/p>\n

The U.S. Commerce Department separately restricted exports to Hoshine, three other Chinese companies and the paramilitary Xinjiang Production and Construction Corps (XPCC).<\/p>\n

Gold edged lower as the dollar inched up to a near 11-week high in the wake of conflicting signals from Federal Reserve officials on rate hikes.<\/p>\n

The benchmark 10-year U.S. Treasury yield held below 1.50 percent and Bitcoin traded at around $33,500, while oil traded above $73 a barrel on data showing a sharp drawdown in U.S. crude and gasoline stocks.<\/p>\n

Germany’s IFO business<\/span> report will be released later in the day and stronger numbers are anticipated. <\/p>\n

The Bank of England is expected to keep stimulus unchanged later today, but investors will be looking out for hints at tightening next year. <\/p>\n

Across the Atlantic, trading may be impacted by reaction to the latest U.S. economic data, including reports on initial jobless claims and durable goods orders.<\/p>\n

U.S. stocks ended little changed in a quiet session overnight after strong manufacturing data and reassurances from U.S. Federal Reserve Chair Jerome Powell that inflation pressures will be transitory.<\/p>\n

The tech-heavy Nasdaq Composite edged up 0.1 percent to a new record closing high while the Dow slipped 0.2 percent and the S&P 500 eased 0.1 percent.<\/p>\n

European stocks ended Wednesday’s session lower as inflation worries overshadowed encouraging euro zone economic data.<\/p>\n

The pan European Stoxx 600 dropped 0.7 percent. The German DAX lost 1.2 percent, France’s CAC 40 index shed 0.9 percent and the U.K.’s FTSE 100 slipped 0.2 percent. <\/p>\n<\/p>\n

Business News<\/p>\n<\/div>\n