European stock futures were seen opening flat on Tuesday as the US government shutdown continues, while the PMI services reports are expected to be released later in the day.
The pan-European Euro Stoxx 50 futures declined to 2,910.56 at the time of writing, while the French CAC 40 futures lost 0.04% at 4,163.87. At the same time the UK FTSE 100 edged 0.01% lower, standing at 6,419.68 and the German DAX futures rose 0.03% higher at 8,638.54.
A string of Purchasing Managers’ Index (PMI) service reports are expected to be released from Italy, France, Spain, Germany and the whole of eurozone , between 7:00am GMT and 8:00am GMT.
European Stock Futures – ECB Announcement
The confidence indicators showed that the eurozone was recovering, as ECB announced that rates will remain unchanged or lower levels “for an extended period of time,” Mario Draghi, President of European Central Bank (ECB) said at the press conference on Wednesday.
The jobless claim figures in the eurozone remained higher, Draghi commented. Draghi also recapped that the bank’s monetary policy will remain unchanged for as long as necessary.
Italy
Over the weekend, five ministers from Silvio Berlusconi’s People of Freedom Party (PDL) resigned as the Prime Minister Enrico Letta won a confidence vote on Wednesday.
Victory of the vote was reached by the decision of the PDL members, as well as the resigning members.
Meanwhile, on Wednesday the former Italian Prime Minister Silvio Berlusconi joined members of the People of Freedom Party (PDL) and said he would support the coalition government to avoid another political turmoil for the country.
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