European markets head for higher open after approval of U S Covid

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LONDON — European stocks are expected to open higher Thursday, as markets react to positive momentum stateside following the final approval of President Joe Biden's $1.9 trillion Covid relief bill. London's FTSE is seen opening 19 points higher at 6,738, Germany's DAX 40 points higher at 14,574, France's CAC 40 up 16 points at 6,004 and Italy's FTSE MIB 94 points higher at 24,009, according to IG. International markets are expected to react positively after the House of Representatives passed the $1.9 trillion stimulus package, sending it to President Biden who is expected to sign the relief bill on Friday. Read more: House passes $1.9 trillion Covid relief bill, sends it to Biden to signAsia-Pacific markets traded broadly higher Thursday, following a relatively strong finish on Wall Street overnight after the passing of the relief package. U. S. stock futures were largely flat overnight after the Dow jumped 464 points to a record closing high on Wednesday. On Thursday, European markets will be focused on the next move by the European Central Bank, which is due to meet Thursday. ECB officials in recent weeks have reportedly described the rise in bond yields as "unwarranted tightening" and a situation that needs to be monitored closely. Read more: Surging yields are creating problems for the ECB. And it's split on what to doThe ECB will make its latest interest rate announcement at 12:45 p.m. London time and is due to publish macroeconomic projections for the euro area at 2:30 p.m. London time. European earnings come from Generali, Hugo Boss, Rolls-Royce, WPP, Morrisons and John Lewis Partnership. Data releases include inflation readings from a handful of European countries for March and Swedish unemployment data for February. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.


All data is taken from the source: http://cnbc.com
Article Link: https://www.cnbc.com/2021/03/11/european-markets-covid-relief-bill-earnings-data-stocks-.html


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