GLOBAL MARKETS - European markets set to open higher starting the rate decisions week
Istanbul, September 16 (Hibya) - European stocks were set to open higher on Monday as investors prepared for a bumper week of interest rate decisions from the U.S. Federal Reserve and the Bank of England.
According to the analysts, the FTSE 100 opened 4 points higher at 8,278, Germany’s DAX was up 27 points at 18,713, France’s CAC was 7 points higher at 7,468, and Italy’s FTSE MIB was up 30 points at 33,583.
The pan-European Stoxx 600 closed higher on Friday and added 1.09% for the week as positive momentum returned to the market.
With a U.S. rate cut now all but guaranteed, investors are waiting to see how much the Fed will cut rates on Wednesday and what guidance chair Jerome Powell will give on the future path for monetary policy.
The Bank of England will also meet on Thursday for its latest monetary policy decision, with markets currently split on whether or not it will move to cut rates for the second time in two months.
Markets in Asia were mixed Monday as investors digested key economic data from China and awaited the Bank of Japan’s meeting on Friday. U.S. futures were seen little changed.
Back in Europe, earnings from Swedish clothing giant H&M are due Monday, while inflation data is from Italy.
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