European markets seen higher, euro jumps, NATO meeting eyed
European bourses are expected to open higher Thursday as investors look ahead to NATO’s meeting of defence ministers and a G-20 preparatory meeting between European heads of state.
The FTSE 100 is on track to open higher by 32.2 points at 7,420; the German DAX is seen opening 58.3 points higher at 12,705; and the French CAC is expected up by 17.3 points at 5,272.
The euro hit a one year-peak ahead of market open Thursday while the dollar dipped in U.S. trade as markets sensed that tightening monetary policy could soon extend beyond the U.S. to Europe and Canada.
Meanwhile, U.S. equities jumped on Wednesday as bank stocks rallied after the Federal Reserve agreed to give the 34 largest U.S. banks the green light for buyback plans. The Nasdaq posted its best day of the year.
On the agenda Thursday, NATO defense leaders will be meeting in Brussels while German Chancellor Angela Merkel will host European heads of state in a G-20 preparatory meeting.
In Asia, China’s President XI Jing Ping will be arriving in Hong Kong to celebrate its 20th anniversary of Chinese rule.
Source: CNBC
