European shares head for a positive open as global rally pauses; U.S. markets closed

  • European stocks are expected to open slightly higher on Thursday.
  • London's FTSE is expected to open 22 points higher at 6,402, Germany's DAX 4 points higher at 13,307, France's CAC 40 up 9 points at 5,582 and Italy's FTSE MIB 45 points higher at 22,321, according to IG.

European stocks are expected to open slightly higher on Thursday as a global equity market rally takes a breather.

London's FTSE is expected to open 22 points higher at 6,402, Germany's DAX 4 points higher at 13,307, France's CAC 40 up 9 points at 5,582 and Italy's FTSE MIB 45 points higher at 22,321, according to IG.

The lackluster open is expected after global stocks pulled back from their rally this week. The Dow Jones Industrial Average fell on Wednesday, taking a breath after breaking above 30,000 points Tuesday, while traders pored over disappointing unemployment data.

The U.S. Labor Department said that 778,000 people filed for unemployment benefits for the first time last week. Economists polled by Dow Jones expected initial jobless claims to come in at 733,000.

Trading volumes in the U.S. Wednesday were lighter than usual ahead of the Thanksgiving holiday; U.S. financial markets are closed Thursday.

Meanwhile, stocks in Asia-Pacific struggled for direction in Thursday trade as investors reacted to minutes released overnight from the U.S. Federal Reserve's November meeting.

The summary of the Fed meeting from earlier this month indicated that U.S. central bank officials discussed ways of getting more money into the economy, which is still recovering from the coronavirus pandemic.

Back in Europe, earnings figures come from Britvic, Mulberry Group and Aviva on Thursday; on the data front, Germany's GfK consumer sentiment survey for December is released.

Subscribe to CNBC PRO to access live PRO Talks, including our Dec. 2 discussion on opportunities and risks in international markets. 

-CNBC's Fred Imbert and Eustance Huang contributed to this market report.

Source: Read Full Article