European Stock Futures Lower; Inflation Worries Weigh
11 May 2021
European stock markets are seen weakening at the open Tuesday, following the previous session’s tech-led selloff on Wall Street on increased inflation worries.
At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.4% lower, CAC 40 futures in France dropped 1.1% and the FTSE 100 futures contract in the U.K. fell 1.1%.
The Germany’s ZEW survey of economic sentiment for May will be the main data release, and is expected to show an improvement in confidence in the Eurozone’s most important economy.
In corporate news, German conglomerate Thyssenkrupp (DE:TKAG) raised its full-year outlook for the second time in three months, boosted by a global economic recovery that drove demand for steel, car parts and materials.
German utility E.ON (DE:EONGn) swung to a profit in the first quarter of the year and confirmed its outlook and dividend policy, while earnings are also due from the likes of French video game company Ubisoft Entertainment (PA:UBIP) and German engineering firm Bilfinger (DE:GBFG).
The pan-European Stoxx 50 climbed down by 0.27% to 4,023.4. In the cash markets, the DAX futures Germany was trading flat at 15,400.41. CAC 40 futures in France up by 0.01% to 6386.00 while the FTSE 100 futures in the U.K. down 0.43% at 7,034.5, at the time of writing.