European futures steady
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EUROPEAN FUTURES STEADY
European equity futures are pointing to a steady open on Friday in what has so far been a strong week on the back of Chinese stimulus measures and prospects for earlier rate cuts from the Fed and ECB.
Euro STOXX 50 futures .STXEc1 are up 0.1%. The index has already gained over 3% this week.
Futures on the DAX FDXc1, CAC FCEc1 and FTSE FFIc1 are flat to up 0.2%.
On Friday, China's central bank lowered interest rates and injected liquidity into the banking system as it attempts to stimulate growth to hit its roughly 5% target.
Chinese shares .CSI300 are up 3.6% on Friday, taking their weekly gain to over 14.5%, the biggest weekly jump since 2008.
In Europe, eyes will be on the luxury sector after Moncler MONC.MI CEO and Chairman Ruffini struck a deal with LVMH LVMH.PA, which will see LVMH partner with Ruffini to make an expanded investment in the Italian company.
(Samuel Indyk)
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