European Stock Futures Mixed; Tech Stocks in Focus
05 May 2021
European stock markets are seen opening mixed on Wednesday, as investors digest the sharp pullback in the tech sector overnight ahead of a fresh round of corporate earnings.
At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.2% higher, CAC 40 futures in France dropped 0.3% and the FTSE 100 futures contract in the U.K. rose 0.1%.
Europe, the tech sector saw late selling on Tuesday, and thus action could be more subdued Wednesday, especially as investors focus on more corporate earnings as well as key economic data.
German logistics company Deutsche Post (OTC:DPSGY) raised its full-year profit forecast Wednesday after more than tripling its operating earnings in the first quarter, predicting that ecommerce will keep booming and global trade will rebound.
The pan-European Stoxx 50 climbed up by 0.73% to 3,960.5. In the cash markets, the DAX futures Germany was trading up 1.00% to 15,005.00. CAC 40 futures in France up by 0.86% to 6254.50 while the FTSE 100 futures in the U.K. down 0.81% at 6,881.0, at the time of writing.