{"id":8442,"date":"2021-03-31T05:37:00","date_gmt":"2021-03-31T05:37:00","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/03\/31\/european-shares-set-for-cautious-open\/"},"modified":"2021-03-31T05:37:00","modified_gmt":"2021-03-31T05:37:00","slug":"european-shares-set-for-cautious-open","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/03\/31\/european-shares-set-for-cautious-open\/","title":{"rendered":"European Shares Set For Cautious Open"},"content":{"rendered":"
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European stocks are likely to open on a cautious note Wednesday as investors keep a wary eye on the yields and U.S. President Biden’s infrastructure spending plans. <\/p>\n

The yield on the 10-year Treasury rose to 1.73 percent after a report showed U.S. consumers are even more confident than economists expected.<\/p>\n

The dollar hit a fresh one-year high versus the yen and reached multi-month peaks against other rivals as investors await more details on the next leg of U.S. stimulus to overhaul U.S. infrastructure and manufacturing. <\/p>\n

Gold edged lower on dollar strength while oil inched up after falling overnight as the Suez Canal reopened to traffic.<\/p>\n

Asian markets<\/span> are trading mixed despite upbeat data from China. Official data showed that China’s manufacturing activity expanded at the fastest pace in three months in March, adding further momentum to a solid economic recovery. <\/p>\n

The official manufacturing Purchasing Manager’s Index (PMI) rose to 51.9 from 50.6 in February. Growth in China’s services sector also picked up significantly in March, a separate survey showed.<\/p>\n

U.K. shop prices continued to fall in March as non-food retailers resorted to discounting, data from the British Retail Consortium showed earlier in the day. <\/p>\n

The shop price index fell 2.4 percent on a yearly basis in March. Non-food prices were down 4 percent from last year, while food prices gained 0.3 percent.<\/p>\n

Unemployment figures from Germany and flash consumer price data from euro area are due later in the session, headlining a busy day for the European economic news.<\/p>\n

Across the Atlantic, trading may be impacted by reaction to a report on private sector employment.<\/p>\n

U.S. stocks ended slightly lower overnight as treasury yields hit a new 14-month high and investors awaited details on Biden’s infrastructure plan. <\/p>\n

A measure of U.S. consumer confidence raced in March to its highest level since the start of the Covid-19 pandemic, reinforcing investor optimism about the economy<\/span>. <\/p>\n

The Dow and the S&P 500 slid around 0.3 percent while the tech-heavy Nasdaq Composite index edged down 0.1 percent. <\/p>\n

European markets closed higher on Tuesday on the back of encouraging economic data from the region and dovish comments by Bank of England’s policy maker Gertjan Vlieghe.<\/p>\n

The pan European Stoxx 600 gained 0.7 percent. The German DAX climbed 1.3 percent to a record high, France’s CAC 40 index rallied 1.2 percent and the U.K.’s FTSE 100 added half a percent. <\/p>\n<\/p>\n

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