{"id":13254,"date":"2021-08-25T06:10:07","date_gmt":"2021-08-25T06:10:07","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/08\/25\/european-stocks-brace-for-muted-open\/"},"modified":"2021-08-25T06:10:07","modified_gmt":"2021-08-25T06:10:07","slug":"european-stocks-brace-for-muted-open","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/08\/25\/european-stocks-brace-for-muted-open\/","title":{"rendered":"European Stocks Brace For Muted Open"},"content":{"rendered":"
<\/div>

\n<\/p>\n

\n

European stocks are expected to open cautious amidst an anxious wait to the U.S. Fed’s virtual conference later in the week. The Fed speakers are widely expected to indicate a plan for gradual roll-back of the massive asset purchase programs that have served as stimulus for economic growth as pandemic ravaged world economies.<\/p>\n

Overnight, the U.S. benchmarks had closed with modest gains as sentiment lay tethered to talks of the tapering timeline. Nasdaq-100 had closed at 15357.68, around 0.29 percent better than the previous close whereas Dow Jones Industrial Average ended at 35366.36, higher than the previous close by just 0.09 percent.<\/p>\n

Tuesday, European indices had closed mixed with the German DAX-30 gaining 0.33 percent to close at 15906, U.K.’s FTSE100 gaining 0.24 percent to close at 7126, Switzerland’s SMI 20 shedding 0.32 percent to close at 12437, France’s CAC-40 losing 0.28 percent to close at 6664, and the pan-European Stoxx 600 edging down 0.02 percent to close at 471.79.<\/p>\n

Dollar Index has currently firmed up to 92.99 from 92.89 on previous day as the greenback remains strong ahead of a widely anticipated and imminent tapering of stimulus programs in the U.S. EURUSD pair is at 1.1743 whereas GBPUSD pair is at 1.3724.<\/p>\n

Gold has retreated in morning trade amidst a resurgent dollar and is currently trading at $1797.85 per troy ounce versus $1808.50 on Tuesday.<\/p>\n

Brent Crude Futures for November settlement is currently trading at $70.20 per barrel versus the previous close of $70.41 amidst less-than- expected fall in crude oil inventories, based on data from American Petroleum Institute on Tuesday. <\/p>\n

American stock futures are in negative territory as speculation about Fed’s tapering timeline intensifies in the run-up to the keenly awaited Jackson Hole Conference of the Fed later in the week. <\/p>\n

Asian markets<\/span> are trading mostly positive in morning trade. At press-time. New Zealand’s NZX 50 has advanced 0.78 percent, China’s Shanghai Composite has gained 0.39 percent, India’s Sensex has moved up 0.28 percent, Australia’s ASX 200 is higher by 0.22 percent, South Korea’s Kospi Index has strengthened by 0.13 percent, and Japan’s Nikkei 225 is up 0.04 percent. However, Hang Seng Index of the Hong Kong Stock Exchange has declined 0.18 percent.<\/p>\n

Germany’s Ifo Business Climate indicator for August and France’s Unemployment Benefit Claims number for July will be released today.<\/p>\n

Earnings are due today from Sweden-based medical technology<\/span> companies Elekta as well as RaySearch Laboratories; Denmark-based companies Scandinavian Tobacco Group as well as Sydbank; French construction services provider Eiffage as well as logistics company ID Logistics; Cyprus-based mining group Polymetal International; Norwegian consultancy Bouvet; Swedish food company Scandi Standard; Ireland-based building materials distributor Grafton Group; Poland-based FMCG distributor Eurocash, among others. <\/p>\n<\/p>\n<\/div>\n