European futures signal tepid open
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EUROPEAN FUTURES SIGNAL TEPID OPEN
European stocks are heading for tepid start to Friday, with futures lifting by a fraction, as traders mull some key data releases. The STOXX 600 .STOXX is on track to add 1.5% this week.
EuroSTOXX50 STXEc1 futures are up 0.04%, while FTSE futures <FFIc1 > are off 0.01% and DAX futures FDXc1 are higher by 0.07%.
Data on Friday showed British retail sales volumes rose 2.9% in May, up sharply from a revised 1.8% fall in April when heavy rain kept shoppers away.
Core inflation in Japan accelerated in May due to energy levies, but an index that strips away the effect of fuel slowed for the ninth straight month, data showed on Friday, complicating the central bank's decision on how soon to raise interest rates.
In company news, British advertising group M&C Saatchi SAA.L said on Friday Simon Fuller has been appointed as its next chief financial officer, effective from July 1.
Real estate owner Covivio CVO.PA has signed a memorandum of understanding with its peer AccorInvest ACCP.PA looking to combine their hotel property and operating companies.
On Thursday, German battery maker Varta VAR1.DE said it would cut its full-year revenue forecast for 2024 due to the declining demand in the energy storage market.
(Lucy Raitano)
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