European Factors to Watch - Shares seen edging higher at the open Nov 22 (Reuters) - European stocks were seen following U.S. and Japanese shares higher on Friday, although local indexes were expected to keep within their recent range as the corporate and macro calendars were light. Financial spreadbetters expect Britains FTSE 100 to open 13 to 19 points higher, or as much as 0.3 percent, Germanys DAX to open 12 to 20 points higher, or as much as 0.2 percent, and Frances CAC 40 to open 16 to 21 points higher, or as much as 0.5 percent. The U.S. Dow Jones index closed above 16,000 points for the first time on Thursday and Japanese stocks scaled six-month peaks after U.S. economic data pointed to a slowly improving labour market and subdued inflation. Adding to the positive market sentiment, James Bullard, president of the Federal Reserve Bank of St. Louis and a voting member of the FOMC, said late on Thursday that the inflation data gives the central bank some leeway to keep the accommodative policy, which has helped European equities rise nearly 20 percent since September 2012. The pan-European FTSEurofirst 300 index has been stuck in a 2.5 percent range in the past two weeks as traders weighed better U.S. data against the prospect of a reduction to the Feds stimulus programme and fretted about signs of a new economic slowdown in the euro zone. With no major European or U.S. company due to report on Friday, investors were likely to focus on Germanys Ifo business morale index, due to be published at 0900 GMT and expected to rise to 107.7 points after a fall in the previous month. Looking ahead, market tone will likely remain positive with a light calendar providing little direction or distraction, though the chance of some consolidation and profit taking is not insignificant, Credit Agricole said in a note. > Nikkei nears 2013 peak as dollar breaks 100 yen barrier > U.S. Dow Jones ends above 16,000 for first time, boosted by data > Japans Nikkei races to 6-month peak, SoftBank stars > U.S.TREASURIES-Prices edge up as economic data mixed > FOREX-Yen hits 4-month low vs dollar; Aussie under pressure > Gold set for biggest weekly loss in 2 mths on stimulus fears > Copper on track for first weekly gain in three > -Brent slips below $110, but on track for second weekly gain
Posted on: Fri, 22 Nov 2013 07:24:13 +0000
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