LONDON, July 29 (Reuters) – European shares are likely to
open flat to lower on Thursday, mirroring losses in Asia and on Wall Street,
with investors seen cautious following weak U.S. data and the market’s failure
to break key resistance levels.
According to financial bookmakers, Britain’s FTSE 100 .FTSE was expected
to open 6 to 11 points lower, Germany’s DAX .GDAXI was seen opening almost
flat and France’s CAC 40 .FCHI was expected to fall 9 to 14 points.
U.S. stocks fell on Wednesday after weak durable goods figures and a
downbeat assessment of the economy from the Fed’s Beige Book kept the benchmark
S&P 500 trapped below its 200-day moving average.
“U.S. economic data remains something of a concern for equity traders across
the globe with both the Fed’s beige book and the durable goods order numbers
released yesterday adding to the ongoing theme of disappointment here,” said Ben
Potter, research analyst at IG Markets.
“With August around the corner and Europe slowing down for the summer, it’s
all too easy to start thinking that an air of indifference may be about to grip
the markets.”
The FTSEurofirst 300 .FTEU3 index of top European shares closed 0.3
percent lower at 1,050.88 points on Wednesday, after rising by as much as 0.7
percent in early trade. In Asia, Tokyo’s Nikkei fell 0.4 percent on Thursday.
———————-MARKET SNAPSHOT AT 0510 GMT———————-
LAST PCT CHG NET CHG
S&P 500 .SPX 1,106.13 -0.69 % -7.71
NIKKEI .N225 9,711.31 -0.43 % -41.96
MSCI ASIA EX-JP .MIASJ0000PUS 486.79 -0.05 % -0.24
EUR/USD EUR= 1.3011 0.19 % 0.0025
USD/JPY JPY= 87.18 -0.18 % -0.1600
10-YR US TSY YLD US10YT=RR 2.989 — -0.01
10-YR BUND YLD EU10YT=RR 2.728 — -0.02
SPOT GOLD XAU= $1,165.60 0.26 % $3.05
US CRUDE CLc1 $77.08 0.12 % 0.09
———————————————————————–
* GLOBAL MARKETS-Asia shares retreat from highs, dollar dips [ID:nTOE66S007]
* Wall St ends lower after weak durable goods orders data [ID:nN28215774]
* Nikkei falls 0.5 pct after rally; Panasonic drops [ID:nTOE66S02I]
* FOREX-Euro dips vs yen on Japan exporter selling [ID:nTOE66S034]
* TREASURIES-Firm in Asia after strong auction [ID:nTOE66S02F]
* Oil steady near $77 after sharp U.S. inventory gain [ID:nSGE66S06Z]
* PRECIOUS-Gold regains strength on dollar; ETF drops [ID:nSGE66S00S]
* METALS-Copper inches lower as economic uncertainties weigh [ID:nTOE66S02T]
(Reporting by Atul Prakash; Editing by Jon Loades-Carter)