European stocks set for muted open; yields bounce and oil stays elevated
European equity index futures hovered near flat as global bond yields rebounded and oil prices stayed elevated amid skepticism over a US bond buyback plan and Iran sanctions risk.
European equity markets were set to open little changed on Friday as investors remained cautious after global bond yields rebounded amid skepticism over the US government’s bond buyback plan.
Oil prices also remained elevated as the US prepares sweeping new economic sanctions against Iran, keeping inflation risks in focus.
In Europe, investors will assess UK retail sales and French business confidence data, along with manufacturing and services PMI reports from the Eurozone, Germany, France and the UK.
In corporate news, Banca Monte dei Paschi di Siena SpA is seeking to acquire two separate banks in deals worth a combined €34 billion, as it moves to fend off a potential takeover by rival Intesa Sanpaolo SpA.
In premarket trading, Euro Stoxx 50 and Stoxx 600 futures hovered around the flatline, with both benchmarks coming off at least five consecutive sessions of losses.