Shares in Europe mixed after Manchester explosion; PMIs eyed

Shares in Europe

Stocks in Europe are expected to open mixed on Tuesday as investors read news of a terrorist attack in the U.K. and digest further political and economic problems in the Eurozone.

The FTSE 100 is seen up by 7 points at 7,502, the DAX is expected to have a lower opening by 1 point at 12.620 and the CAC 40 is set to start down by 2 points at 5,323.

There were 19 people that got killed and about 50 injured after an explosion at an Ariana Grande concert in Manchester City. The incident dragged the pound lower and led British Prime Minister Teresa May to suspend her election campaign ahead of the June 8 election.

In the meantime, finance ministers of the euro zone have failed to reach an agreement with the International Monetary Fund over the debt relief for Greece. Jeroen Dijsselbloem, president of Eurogroup who chaired the meeting on Monday that lasted eight hours, said that an agreement is near and that they will continue to it at their next scheduled meeting in June.

In the United States, former White House National Security Advisor Michael Flynn turned down a senate subpoena with regards to investigating the possible interference of Russia with last year’s Presidential Election.

In terms of data, there will be flash manufacturing and services PMIs in the euro zone.


Leave a Reply

Your email address will not be published.