European Factors to Watch-Lower start eyed on Iraq violence, BoE tightening prospects

viernes 13 de junio de 2014 02:32 GYT

LONDON, June 13 (Reuters) - European stocks were seen edging lower on Friday as violence in Iraq raised the threat of new instability in the oil-rich Middle East and pushed up energy prices.

British property companies and banks were likely to be in focus on Friday after Bank of England Governor Mark Carney said that British interest rates could rise sooner than financial markets expect and that he was concerned by signs that mortgage lending standards were becoming looser.

At 0629 GMT, futures for the Euro STOXX 50, Britain's FTSE 100 , Germany's DAX and France's CAC were down between 0.1 percent and 0.4 percent.

The Dax was set for its first sizeable weekly loss since mid-April while the Cac and the FTSE were on track for their first weekly decline since May.

President Barack Obama threatened U.S. military strikes in Iraq against Sunni Islamist militants who have surged out of the north to menace Baghdad and want to establish their own state in Iraq and Syria.

Brent futures rose towards $114 a barrel on Friday and hit a nine-month high while U.S. stocks fell overnight.

"I'd rather be short (the market) at the moment," Justin Haque, a pan-European broker at Hobart Capital Markets, said.

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