Title: European Stock Futures Marginally Lower; ECB, G7 Meetings in Focus
Jun 27, 2022 01:57AM ET
European stock markets are expected to open marginally lower on Monday as investors look to the annual European Central Bank meeting and Group of Seven summit for perspective after an extremely turbulent first half of the year.
At 02:00 AM ET, DAX futures in Germany were down 0.1%, CAC 40 futures in France were down 0.1%, and FTSE 100 futures in the U.K. were down 0.1%.
European stock indexes ended last week with strong gains, and the pan-European STOXX 600 index closed up 2.6% on Friday, its best performance in more than three months.
However, investors were concerned about the possibility of a global recession as central banks aggressively tightened monetary policy to combat rampant inflation.
Against this backdrop, the ECB's three-day forum begins Monday in Portugal, and investors will be looking for clues on how the central bank views the trade-off between containing inflation and ensuring a soft landing for the global economy.
In addition, investors will expect more information from the three-day Group of Seven summit that began Sunday. The situation in Ukraine and the outlook for the global economy are likely to be high on the agenda.
In corporate news, Credit Suisse is likely to be in the spotlight as Swiss judges will rule Monday on whether the Swiss lender failed to prevent money laundering in connection with a suspected cocaine trafficking gang