European Stocks were seen green on Thursday as investors worries over the futures if the US budget, while Congress is expected to pass a spending a bill before October 1 for the government to stay funded.
Futures of the European Euro 50 rose 0.27% higher at 2,919.50 at the time of writing, while the German DAX futures edged 0.32% lower to 8,683.30 at the same time. Futures for the French CAC 40 advanced 0.31% to 4,197.80 and the UK FTSE 100 futures gained 0.23% higher to 6,526.80.
European Stocks – Market Movers
Talks over the US budget and debt ceiling are still ongoing in the US, the Congress need to take action before the US government funding expires on October 1st.
On Wednesday, the US Treasury Secretary Jack Lew said he predicted that the US debt ceiling would be almost reached on October 17 with an estimated $30 billion cash.
Meanwhile in Greece, the government banks are trying to impose tougher collateral and assurance standards on domestic borrowers, which is expected to open the prospects of new credit tightening, according to reports by eKathimerini. Greek’s deputy Prime Minister Evangelos Venizelos said that the country could avoid the need of a third bailout if the global bond markets is accessible next year.
European Stocks – Economic News
Italy’s retail sales were seen edging 0.1% lower in July on a monthly basis, after a previously recorded 0.2% fall in the previous month, while retail sales are estimated to drop 2.8% year-on-year.
Meanwhile in Rome, the country’s government is expected to hold an auction of Treasury bills maturing in 6 months, with a maximum target to raise €8.5 billion.
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