European markets head for lower open ahead of European Central Bank meeting

• European stocks are expected to open lower on Thursday as investors in the region watch for announcements from the European Central Bank.
• London's FTSE is seen opening 38 points lower at 7,061, Germany's DAX 45 points lower at 15,577, France's CAC 40 down 17 points at 6,655 and Italy's FTSE MIB 63 points lower at 25,775, according to IG.

LONDON — European stocks are expected to open lower on Thursday as investors in the region watch for announcements from the European Central Bank.

London's FTSE is seen opening 38 points lower at 7,061, Germany's DAX 45 points lower at 15,577, France's CAC 40 down 17 points at 6,655 and Italy's FTSE MIB 63 points lower at 25,775, according to IG.

All eyes will be on the ECB on Thursday, with market players keen to hear the bank's outlook on inflation, interest rates and hints on when it might start tapering its massive asset-purchase program despite uncertainty over economic growth and Covid.

The ECB announces its latest monetary policy decision at 12:45 p.m. London time and holds a press conference shortly afterward.

Read more: ECB to kick off its tapering debate as inflation surges to a 10-year high

Elsewhere overnight, Asia-Pacific markets saw Chinese stocks fell on Thursday and U.S. stock futures were mildly lower in overnight trading Wednesday as investors remained cautious over the economy.

Stock picks and investing trends from CNBC Pro:

Bank of America’s reliable model indicates negative long-term returns for the first time since 1999

September has a rough track record. These stocks do well when this month gets bumpy

Goldman Sachs says to buy these 3 chipmakers as it raises their earnings forecasts

Dysfunction in the U.S. labor market amid the Covid-19 pandemic was reinforced Wednesday when the Labor Department's Job Openings and Labor Turnover Survey showed job openings outnumbered the unemployed by more than 2 million in July.

Investors will be watching for the latest weekly jobless claims data, set to release Thursday morning U.S. time, for a greater look at the employment picture. Economists polled by Dow Jones expected 335,000 Americans filed for unemployment last week, compared to the previous week's 340,000.

Earnings come from Lloyd's of London, Morrisons and Superdry on Thursday and on the data front, Germany reports trade data for July and Greece reports June unemployment figures.

Enjoyed this article?
For exclusive stock picks, investment ideas and CNBC global livestream
Sign up for CNBC Pro
Start your free trial now

Source: Read Full Article