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  • Writer's pictureanalysiswatch

Title: European Stock Futures Higher; Central Banks Communication in Focus

Jul 05, 2022 02:02AM ET

By: AnalysisWatch

European stock markets are expected to open higher Tuesday, continuing the positive start to the new month with investors focusing on guidance from a number of key central banks.

At 02:00 AM ET, the DAX futures contract in Germany traded 0.5% higher, CAC 40 futures in France climbed 0.5% and the FTSE 100 futures contract in the U.K. rose 0.2%.

The region’s main equity indices largely closed higher Monday albeit in quiet trading with the U.S. on holiday, building on Friday’s positive start to the new month as investors sought out bargains after a bruising first half of the year.

Worries that central banks around the world will push economies into recession in tackling rampant inflation sent investors running for cover during the first six months of the year, with the broad-based pan-European STOXX 600 down some 16% year to date.

Helping the tone Tuesday was healthy economic data out of China, as the country's Caixin services purchasing managers' index rose to 54.5 in June, from 41.4 in May, indicating the fastest growth since July last year and the first expansion since February as easing COVID curbs revived demand.

The Bank of England is due to publish its latest biannual Financial Stability Report later in the session, while the Fed releases the minutes of its latest policy-setting meeting on Wednesday and the European Central Bank does

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