Europe stock futures were seen trading lower on Friday as investors focus on the Eurogroup and Ecofin meeting; investors are also keeping an eye on the next Federal Reserve (Fed) meeting where analysts are predicting the tapering of the US stimulus program will be announced.
Futures of the Euro Stoxx 50 were edged 0.16% lower at 2,856.50 at the time of writing, while the German DAX futures dropped 0.11% to 8,480.30 at the same time. The French CAC 40 futures lost 0.05% to 4,103.80 and the UK FTSE futures declined 0.09% to 6,581.30.
The Eurogroup, which consist of finance ministers from the Eurozone, are expected to meet in Lithuania to discuss about the current aid program for Cyprus. The next bailout tranche of €1.5 billion for Cyprus is expected to be approved by officials. The Eurogroup stated that the discussion on Greece have been scheduled for the next meeting.
The Economic and Financial Affairs Council (Ecofin) September meeting will begin later in the day; members are expected to meet to discuss the European Union economic stability and how to improve access to finance both small and standard-sized companies.
Meanwhile, investors continue to worry over possibilities that the Federal Reserve will start tapering its stimulus program. Analysts are predicting the scale-back of the US stimulus-program may be announced at the central bank’s next meeting on September 17-18.
With the situation in Syria still in the spotlight, the US secretary of State John Kerry and the Russian Foreign Minister Sergei Lavrov met in Geneva, Switzerland on Thursday and is expected to continue their discussion till Friday. The highlight of their discussion was on how Syria should place its chemical weapons under international control.
Russia’s Foreign Minister Sergei Lavrov suggested on Thursday that Russia “is determined to find a consensus.” Investors are expecting that the conflict between the United States and Syria will be solved, with hopes that the US will not take any military action against Syria.
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