European stocks tipped-off for a steady start ahead of UK GDP

FXStreet (Mumbai) – European indices are expected to open the last trading session of the week on a flatter note, shrugging off strong performances staged by their US and Asian counterparts as markets remain cautious ahead of key data releases during the session – UK GDP and German CPI.

Stocks in Asia extended its recovery from Monday’s fall and rallied on Friday, with the closely-watched Shanghai Composite index (SSEC) jumping about 1%.

Before the market open, futures for Germany’s DAX 30 index added 0.14% to 10,326.80, while futures for the UK FTSE 100 index rose 0.10% to 6,193.30.

Among the other indices, French CAC 40 futures gained 0.18% to 4,666.70, while futures for the pan-European Euro Stoxx 50 index increased 0.16% to 3,288.50.

The main market mover in the European session ahead is expected to be the UK growth numbers. Markets predict an expansion of 0.7% quarter-on-quarter, after 0.4% growth recorded for the first quarter.

European indices are expected to open the last trading session of the week on a flatter note, shrugging off strong performances staged by their US and Asian counterparts as markets remain cautious ahead of key data release during the session –UK GDP and German CPI.

(Market News Provided by FXstreet)