{"id":115238,"date":"2021-03-03T07:21:43","date_gmt":"2021-03-03T07:21:43","guid":{"rendered":"https:\/\/precoinnews.com\/?p=115238"},"modified":"2021-03-03T07:21:43","modified_gmt":"2021-03-03T07:21:43","slug":"european-markets-head-for-higher-open-uk-investors-await-budget-plans","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/european-markets-head-for-higher-open-uk-investors-await-budget-plans\/","title":{"rendered":"European markets head for higher open; UK investors await budget plans"},"content":{"rendered":"<ul>\n<li>European stocks are expected to open higher at the market open Wednesday, with investors in the U.K. keen to see what taxation and spending plans the British government reveals in the annual budget statement.<\/li>\n<li>London&#x27;s FTSE is seen opening 26 points higher at 6,651, Germany&#x27;s DAX 31 points higher at 14,076, France&#x27;s CAC 40\u00a0up 19 points at 5,830 and Italy&#x27;s FTSE MIB 93 points higher at 23,164, according to IG.<\/li>\n<\/ul>\n<p>LONDON \u2014 European stocks are expected to open higher at the market open Wednesday, with investors in the U.K. keen to see what taxation and spending plans the British government reveals in the annual budget statement.<\/p>\n<p>London&#x27;s FTSE is seen opening 26 points higher at 6,651, Germany&#x27;s DAX 31 points higher at 14,076, France&#x27;s CAC 40\u00a0up 19 points at 5,830 and Italy&#x27;s FTSE MIB 93 points higher at 23,164, according to IG.<\/p>\n<p>Positive sentiment in European markets despite mixed trade in the U.S. and in Asia. U.S. stock futures were flat in overnight trading Tuesday, after stocks dipped in the regular session with the\u00a0Dow Jones Industrial Average\u00a0falling 143.99 points to close at 31,391.52. The\u00a0S&amp;P 500\u00a0slipped 0.81% to finish its trading day at 3,870.29, while the\u00a0Nasdaq Composite\u00a0dropped 1.69% to close at 13,358.79.<\/p>\n<p>Meanwhile, stocks in Asia-Pacific were mostly higher in Wednesday trade, as a private survey showed slowing services sector activity in China last month.<\/p>\n<p>The Caixin\/Markit services Purchasing Managers&#x27; Index came in at 51.5 for February, a decline from January&#x27;s reading of 52. PMI readings above 50 represent expansion while those below that level signify contraction. PMI readings are sequential and show on-month expansion or contraction.<\/p>\n<p>The U.K. market will be focused on taxation and spending plans set to be presented by Chancellor Rishi Sunak later Wednesday, as the coronavirus pandemic continues to play havoc with the British economy, although the lifting of restrictions is planned in the next few months. Sunak&#x27;s statement on the budget to parliament begins around 12:30 pm London time.<\/p>\n<p>On Tuesday evening, it was announced that the U.K.&#x27;s furlough scheme, aimed at keeping people paid and in jobs while businesses are closed due to the pandemic, would be extended until September.<\/p>\n<p>In other coronavirus developments, U.S. President\u00a0Joe Biden\u00a0said Tuesday the country will have a large enough\u00a0supply of coronavirus vaccines to inoculate every adult in the nation by the end of May\u00a0\u2014 two months earlier than previously expected.<\/p>\n<p>Earnings on Tuesday come from Vivendi, Stellantis, Prudential and Persimmon and data releases include fourth-quarter Italian GDP, Ireland and Portugal&#x27;s unemployment rate in February and January, respectively, and final composite PMI data for the euro zone in February.<\/p>\n<p><em>Subscribe to\u00a0<\/em><em>CNBC PRO<\/em><em>\u00a0for exclusive insights and analysis, and live business day programming from around the world.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/03\/03\/european-markets-uk-investors-await-budget.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European stocks are expected to open higher<\/p>\n","protected":false},"author":3,"featured_media":115237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>European markets head for higher open; 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