June 7, 2016 / 5:26 AM / 2 years ago

European Factors to Watch-Shares head for steady open

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report)

LONDON, June 7 (Reuters) - Financial spreadbetters predicted Britain’s FTSE 100 to open around 6 points lower, or down 0.10 percent, Germany’s DAX to gain 15 points, or up 0.15 percent, and France’s CAC 40 to open flat, on Tuesday.

European stocks edged up on Monday, helped by gains in major mining and oil company shares following weakness in the dollar prompted by Friday’s weak U.S. jobs data. The pan-European STOXX 600 and the FTSEurofirst 300 equity indexes rose 0.3 and 0.4 percent respectively.

In the United States, the S&P 500 index closed at a 7-month high as Federal Reserve Chair Janet Yellen painted a mostly upbeat picture of the economy but gave little sense of when a rate hike may be coming.

Yellen’s remarks, which were likely her last public comments before a policy meeting next week, followed Friday’s dismal monthly jobs report, which raised concerns over the ability of the economy to absorb a rate hike as early as June. Yellen called the jobs report “disappointing,” but said “one should not attach too much significance to a single report.”

ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.

If you have any thoughts, suggestions or feedback on this, please email mike.dolan@thomsonreuters.com.

Mike Dolan, Markets Editor EMEA. (Reporting by Atul Prakash)

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