European bourses set to open higher

Big 5

European markets are seen higher on Thursday as investors digest remarks from U.S. Federal Reserve Chair Janet Yellen and wait to hear from President Mario Draghi of the European Central Bank.

The FTSE 100 is seen 7 points higher at 7,250, the German DAX is set to start 18 points up at 11,608 and the French CAC should begin 6 points higher at 4,854.

Analysts do not expect any changes to the ECB’s monetary policy for now but will be looking for details as to how that may change throughout the year.

Meanwhile, a number of U.K.-based banks, including Lloyds and HSBC, have said they could open subsidiaries in other European countries and transfer staff as Britain prepares to leave the EU.

Another market focus this Thursday is in the U.S. as President-elect Trump prepares to take office on Friday. Donald Trump will be speaking at a pre-inauguration event later this Thursday.

Also on the calendar is the release of the euro zone’s net investment flows and current accounts.

Source: CNBC

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