FXStreet (Mumbai) – The sell-off seen in the US and Asian markets is expected to be a drag on the European indices with markets tipping off for a weaker opening, giving away all of Wednesday’s upsurge.
All major stocks in Asia fell steeply on Thursday, following a strong rally a session ago, despite China Premier Li Keqiang optimistic comments on the domestic economy and the release of better than expected Chinese CPI print.
The Chinese benchmark, the shanghai composite now trades -0.20% lower at 3236 levels, recovering most losses towards the close. While the Nikkei closed -2.5% lower at 18,299 points.
BOE – In focus
Ahead of Europe open, futures for Germany’s DAX 30 index lost 0.78% to 10,225.00, while futures for the UK FTSE 100 index declined 0.64% to 6,173.80. Among the other indices, French CAC 40 futures fell 0.92% to 4,621.30, while futures for the pan-European Euro Stoxx 50 index decreased 0.95% to 3,241.00.
Later in the session, the Bank of England (BOE) is due to meet for the monetary policy decision, with economists expecting no changes to its asset purchase target and interest rate. The bank will also publish the minutes from the meeting.
(Market News Provided by FXstreet)