May 27, 2022 01:57AM ET
By: AnalysisWatch
European equity markets are expected to open unchanged on Friday, ending a generally positive week on a cautious note ahead of the release of key U.S. inflation data.
The German DAX index futures were down 0.1% at 2 a.m. ET, the French CAC 40 index futures were unchanged, and the UK FTSE 100 index futures were down 0.4%.
The equity markets in Europe are having a positive week, with the DAX, CAC 40, and FTSE 100 all up around 2%, as investors looked for bargains after a series of weekly losses and were comforted by the Federal Reserve minutes that suggested the central bank may slow monetary tightening if it sees signs of a downward trend in inflation.
In related news, the focus is on the release of the personal consumption expenditures index, due on Friday—the latest PCE index showed a significant 6.6% year-over-year increase.
Of all the corporate news, the UK oil and gas industry is likely to be in the spotlight after the government announced on Thursday that it will impose a 25% windfall tax on these companies to support Britons who are struggling with record low living standards.
BP (NYSE: BP) responded by saying it would reconsider its investment plans, which could mean abandoning previously announced plans to invest 18 billion pounds ($23 billion) in the United Kingdom.
Oil prices stabilized on Friday, settling around two-month highs, supported by an expected increase in demand for the start of the summer season in the United States.
In addition, gold futures rose 0.2% to $1,851.80/oz and EUR/USD rose 0.2% to 1.0750.
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