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European stocks open for closing, data WEF, Fed minutes

LONDON – European equities are expected to open mixed on Thursday as markets digest the latest signals from the US Federal Reserve about interest rate hikes.

The UK’s FTSE index has opened 4 points lower at 7,526, Germany’s DAX up 7 points at 14,040, France’s CAC 40 up 2 points at 6,310 and Italy’s FTSE MIB 39 points higher at 24,234, according to data from IG.

The cautious opening expected for European equities comes after a higher close on Wednesday as global markets tried to recover from a widespread retreat in the previous session.

In the US, shares rose on Wednesday after the minutes from the Federal Reserve̵[ads1]7;s political meeting in May showed that the central bank is prepared to raise interest rates longer than the market had expected.

Minutes from the Fed’s meeting 3.-4. May showed that officials saw the need to raise interest rates quickly, and possibly more than the market has priced in, to ease recent inflationary pressures.

Asia-Pacific stocks struggled for direction in trading Thursday morning as investors reacted to the Fed protocols. US stock futures were also mixed on Wednesday night as investors digested a disappointing update from Nvidia, a financial watch in the technology industry.

It is the last day of the World Economic Forum on Thursday, and concludes an event that sees global business and political leaders gather to discuss the world’s most pressing issues, with the war in Ukraine at the top of the agenda.

On Thursday, CNBC will interview the Prime Minister of Bulgaria, the Vice President of Palantir, the CEOs of CEPI and Signify and others.

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