European Stock Futures Largely Lower; Sanofi on Acquisition Trail

European Stock Futures Largely Lower; Sanofi on Acquisition Trail

European stock markets are expected to open largely lower Wednesday, weighed by weakness on Wall Street overnight due to worries over slowing economic growth.

At 2:05 AM ET (0605 GMT), the  DAX Futures contract in Germany traded 0.1% higher, but CAC 40 Futures in France dropped 0.1% and the FTSE 100 Futures contract in the U.K. fell 0.3%.

The U.S. stock markets started the holiday-shortened week on a subdued note Tuesday, with the blue-chip Dow Jones Industrial Average falling over 260 points, or 0.8%.

Worries of slowing growth, exacerbated by the disappointing August jobs report just as the Federal Reserve considers pulling back its bond-buying program, have prompted a more risk-averse mood.

This weakened sentiment has carried over into Europe on Wednesday, even after Japan followed the Eurozone in revising its estimate for second-quarter growth higher, to 1.9% from the initial estimate of 1.3%.

The European data slate is relatively empty Wednesday, with just French Trade Data and Italian Retail Sales scheduled to emerge. Most attention will be on Thursday’s European Central Bank meeting, with the governing council members potentially discussing a reduction in its asset purchasing program.

In corporate news, Sanofi  will be in the spotlight after the French drugmaker announced plans to buy U.S. biopharmaceutical company Kadmon  in a $1.9 billion deal.

The FTSE MIB climbed down by  1.03% to 25,801.30. In the cash markets, the DAX  Germany was trading down 1.20%  to 15,647.65. CAC 40  in France  fell  by 1.14 % to 6,648.22 while the FTSE 100  in the U.K. were down by 0.82% to 7,088.35. ,at the time of writing.

About Author

Related posts

VOLKSWAGEN AG Technical Analysis

VOLKSWAGEN AG TECHNICAL ANALYSIS, AND VOLKSWAGEN AG FORECAST

VOLKSWAGEN AG Technical Analysis: Weekly Chart In the weekly charts, VOLKSWAGEN AG is trading in a down channel. VOLKSWAGEN AG is currently trading below all SMA. RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness. Its immediate support is 155.97...

Read More
Siemens ag technical analysis

Siemens AG Technical Analysis, How To Trade Siemens AG

SIEMENS AG Technical Analysis: Weekly Chart In the weekly charts, SIEMENS AG is trading in a down channel. SIEMENS AG is currently trading below all SMA. RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness. Its immediate support is 95.00...

Read More
sap ag technical analysis

SAP AG Technical Analysis And How To Trade SAP AG

SAP AG Technical Analysis: Weekly Chart In the weekly charts, SAP AG is trading in a down channel. SAP AG is currently trading below all SMA. RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness. Its immediate support is 84.25 & the...

Read More

Leave a Reply