CNBC is providing live updates on the events and business news in European financial markets this Thursday. According to futures data from IG, several European indices are projected to open positively: London’s FTSE 100 is set to rise by 0.3% to 8,799, Germany’s DAX is expected to increase by 0.2% to 23,836, France’s CAC 40 is also anticipated to climb 0.2% to 7,757, and Italy’s FTSE MIB may see a 0.15% boost to 39,926.
This optimistic outlook follows a mixed trading session on Wednesday, particularly affecting the UK, where bond prices and the FTSE experienced a significant decline. This downturn occurred after UK Finance Minister Rachel Reeves appeared visibly upset in Parliament, facing mounting pressure regarding welfare reforms. The government later commented that Reeves was addressing a “personal matter,” with Prime Minister Keir Starmer expressing his full support for her.
Meanwhile, U.S. stock futures showed little movement Wednesday night as traders prepared for the nonfarm payroll data for June. Economists surveyed by Dow Jones are predicting an addition of 110,000 jobs for last month, a decrease from May’s increase of 139,000. There is also an expectation that the unemployment rate will see a slight rise.
In the Asia-Pacific region, stocks in Vietnam surged to their highest levels in over three years as investors anticipated more details regarding the U.S.-Vietnam trade agreement announced by President Donald Trump. As part of the deal, the U.S. will impose a 20% tariff on imports from Vietnam, while Trump indicated that the latter would impose a “ZERO Tariff.”
— Holly Ellyatt
