Europe to open higher as focus shifts away from Italy

Thursday, 31. May 2018 08:21

European stock market index futures point to a higher start on Thursday as investors seem to shift their attention away from the ongoing political crisis in Italy that roiled the markets earlier this week. Italy's two main anti-establishment parties, the Northern League and the Five Star Movement reportedly gave up their efforts to form a coalition government, while League's leader Matteo Salvini urged Italian President Sergio Mattarella to set the date for a new general election. Meanwhile, reports emerged that US President Donald Trump might impose tariffs on EU metal imports later today. On the data front, UK's nationwide housing prices were released before the bell, while Eurozone unemployment and inflation data are coming in later today.

The FTSE 100 is expected to gain 0.39% at the start of the session, while DAX futures indicate a 0.26% higher opening. Meanwhile, the CAC 40 is set to gain 0.20% to start trading in the green.

The euro was 0.14% higher against the dollar to sell for 1.1680 at 8:18 am CET, while the pound added 0.18% versus the greenback to go for 1.3311 at the same time.

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