Europe before the bell: futures soft at start of central bank heavy week
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EUROPE BEFORE THE BELL: FUTURES SOFT AT START OF CENTRAL BANK HEAVY WEEK
European equity futures are mostly weaker on Monday at the beginning of busy for central bank policy announcements, with the Fed, Bank of England and Bank of Japan all on deck.
Data also comes thick and fast, starting with PMIs from Europe today. Analysts surveyed by Reuters expect the flash composite PMI to slip to 48.2 from 48.3, which would mark its lowest level since January.
Euro STOXX 50 futures STXEc1 are down just under 0.2%. Futures on the DAX FDXc1 are steady, while FTSE futures FFIc1 are down 0.1%.
Futures on France's CAC 40 FCEc1 are down 0.3%. Credit rating agency Moody's on Friday downgraded the country's sovereign rating to Aa3 from Aa2, citing political fragmentation.
In corporate news, the autos sector will be in focus after Porsche SE PSHG_p.DE, which owns 31.9% of Volkswagen's VOWG_p.DE equity, warned it may write down the value of its stake by up to 20 billion euros in another sign of shaken investor faith in the carmaker.
(Samuel Indyk)
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MONDAY'S OTHER LIVE MARKETS POSTS:
CHINESE CONSUMERS SHUT UP SHOP CLICK HERE
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