European stocks are set for a mixed open on Thursday morning
European stocks are set for a mixed open on Thursday morning as investors monitor new corporate earnings and geopolitical tensions surrounding North Korea.
The FTSE 100 is seen off by 5 points at 7,452; the DAX 30 is expected to open lower by 4 points at 12,147 and the CAC 40 is set to open up by 2 points at 5,142.
Geopolitical fears remain the biggest focus after North Korea dismissed comments from President Donald Trump as a “load of nonsense” and said it was outlining plans for a missile strike near Guam, where the U.S. has a military base, in mid-August.
The flight-to-safety from global investors eased overnight, but it’s likely to continue to curb sentiment during European trading hours. Furthermore, a raid into the home of Trump’s former 2016 campaign manager took place Wednesday, indicating that investigations into Russian interference in the election is escalating.
In corporate news, KBC Group, Thyssenkrupp, Glencore and Prudential are due to report their latest earnings numbers.
The Italian lender Intesa Sanpaolo is to buy the Swiss private bank Banque Morval for an amount between 150 million to 200 million euros ($176 million to $235 million), Reuters reported. The world’s biggest miner BHP is also to invest significantly in its nickel business as demand for electric vehicles pick up, Reuters reported.
In terms of data, inflation numbers from Germany, France, Spain and Italy are due throughout the morning. The International Energy Agency is due to publish its oil market report at 9 a.m. London time.
Oil prices were slightly lower on Thursday morning with Brent trading at $52.68 a barrel and WTI at $49.52.