European stocks futures were seen in the green territory, while investors focus on the anticipating U.S data on industrial production and housing for signs of the condition of the world’s largest economy.
Reports released showed that Germany’s largest steelmaker, ThyssenKrupp AG may not be able to sell its plant in Brazil, while Europe’s largest tour operator TUI Travel Plc may move after it closed further development.
Futures for the pan-European Euro Stoxx 50 index expiring in December gained 0.4% to 3,039 at 7:10am in London, while the UK FTSE 100 edged up 0.3% higher. At the same time Germany’s DAX index rose 0.35% higher to 9,017.31 and the French CAC 40 climbed 0.37% at 4,287.94.
The Stoxx 600 advanced 0.5% last week as disappointing US data increased speculations that the Federal Reserve will delay tapering its stimulus measures until at least next year March. Futures for the Standard & Poor’s 500 index advanced 0.3%, while MSCI Asia Pacific index gained 1%.
European Stocks – Economic News
Meanwhile, the next Federal Open Market Committee meeting is scheduled on October 29-30, where members of the Federal Reserve will discuss on whether to scale back or delay it asset-purchasing program.
“Market participants are betting that the Fed will not taper before some point in 2014, while investors will pay close attention to earnings, providing there are no negative surprises they are likely to bid the markets up.” Stephane Ekolo, chief European strategist at Market Securities in London, wrote in an e-mail.
In other news, the ongoing issue between Germany and the US regarding the spying case could go into deeper consequences. The German newspaper Bild am Sonntag, reported that the US National Security Agency (NSA) has been spying on German Chancellor Angela Merkel since 2013.
In Italy, the government is due to hold a bond auction of zero coupon bonds maturing in 2015 and 10-year benchmark bond. Italy’s target is to sell €2.25 billion of two-year bonds and €0.75 billion of bonds maturing in 2023, summing to €3 billion.
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