European Stocks Head for Lower Open
European equity markets were set for a lower open on Thursday, extending losses from the previous session as strong US economic data heightened inflation concerns and raised expectations for further interest rate hikes, sending Treasury yields sharply higher. Investors also faced renewed pressure from a rebound in oil prices, which added to inflation risks as uncertainty persisted over US-Iran negotiations. In Europe, investors will assess the latest German business sentiment survey, along with French business and consumer confidence data. In corporate news, French firm Schneider Electric agreed to acquire Bulgarian company Shelly Group, a maker of smart home devices, in a deal valuing the latter at around $1.4 billion. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were down 0.6% and 0.5%, respectively.
European equity markets were set for a lower open on Thursday, extending losses from the previous session as strong US economic data heightened inflation concerns and raised expectations for further interest rate hikes, sending Treasury yields sharply higher. Investors also faced renewed pressure from a rebound in oil prices, which added to inflation risks as uncertainty persisted over US-Iran negotiations. In Europe, investors will assess the latest German business sentiment survey, along with French business and consumer confidence data. 4 billion.
5%, respectively.