European Factors to Watch-France's CAC set for steady open

lunes 25 de mayo de 2015 02:45 GYT
 

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LONDON May 25 (Reuters) - Futures for the CAC 40 indicated a steady open for France's equity index on Monday, with trading volumes in Europe seen thin as several markets in countries including the United Kingdom, Germany and the United States were shut for holidays.

The CAC 40 futures were up 0.04 percent at 0641 GMT as investors were seen trading cautiously following comments from Federal Reserve Chair Janet Yellen on Friday that she expected the central bank to raise rates this year.

Yellen said the U.S. economy was on course to bounce back from a sluggish first quarter and headwinds at home and abroad had started to wane. She also added that delaying a monetary policy tightening until employment and inflation hit the central bank's targets risked overheating the economy.

The pan-European FTSEurofirst 300 index closed 0.1 percent weaker to 1,617.91 points on Friday, when U.S. stocks ended weaker following Yellen's comments after the market close in Europe.

Investors also remained jittery following the debt situation in Greece. The country's interior minister said on Sunday that Greece cannot make debt repayments to the International Monetary Fund next month unless it achieves a deal with creditors, the most explicit remarks yet from Athens about the likelihood of default if talks fail.

After four months of talks with its euro zone partners and the IMF, the leftist-led government is still scrambling for a deal that could release up to 7.2 billion euros ($7.9 billion) in remaining aid to avert bankruptcy.

In Poland, President Bronislaw Komorowski conceded defeat to conservative challenger Andrzej Duda in Sunday's presidential election, a result that will set alarm bells ringing for the government, which faces its own election race later this year.

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