European stocks to open lower as investors consider smaller Fed rate cut    Gold up on Iran tensions, firmer dollar limits upside    Oil rises as Middle East Gulf tensions flare, Libya oil field shut    UK envoy apologises for not informing Egypt over flight suspension    Egypt's population reaches 99 million: CAPMAS    Egypt extends state of emergency for three months: Official gazette    In Photos: 1st phase of Roxy Garage inaugurated on the 1,050th National Day of Cairo celebrations    Iran thanks Saudi Arabia for release of its oil tanker Happiness 1: Fars    Griezmann 'cried with joy' at Barcelona move    Japan ruling bloc to keep simple majority in upper house, may get 2/3: NHK exit poll    Arsenal boss Emery happy to be patient in transfer market    Arsenal Next Gen ready to 'take on the world', says youngster Saka    U.S. President Trump relished rally chant, Ocasio-Cortez tells constituents in Queens    Oman urges Iran to let seized tanker depart: State TV    U.S.-South Korea military exercise to proceed: official    Egypt urges nationals to abide by Schengen travel rules    EgyptAir to provide larger aircrafts for Cairo-London route after British Airways suspension: Source    Egypt's investment opportunities to be promoted in Italy    Egypt's Sisi attends graduation ceremony for police cadets    Algeria crowned Africa Cup of Nations Champions after Senegal win    Sisi: Egypt supports development efforts in all Nile Basin states    Egypt's PM supervises implementation of Luxor's Corniche project    After appointing new female judge, will Egypt see more women in courts?    Egypt's PM follows up implementation of Luxor's Corniche development project    Egypt tells citizens that Saudi e-visa not meant for hajj    Algerian team came to Cairo to win AFCON title: Djamel Belmadi    Egypt, Uzbekistan study establishing pharmaceutical plant    Egyptians Brace for Rising Prices Due to Subsidy Cuts    Belgium's Port of Antwerp to develop bunkering activity in Egypt    Sudan's military, opposition sign 1st part of power-sharing deal    Peace with Egypt must be made: Turkey's main opposition leader    King Tut's golden coffin undergoes first restoration since 1922 discovery    Changing dominant narrative of women on stage    Explorations of music, sound, architecture of Islamic Cairo and everyday life    Farewell to Italy's best-loved writer Andrea Camilleri    Parliament Speaker announces end of fourth legislative term    Total of 59,455 expats in Egypt have undergone virus C screening    Renovation of Egyptian Museum to include installing new lighting, display systems    Egypt's parliament starts new NGO law discussion    Egypt's parliament Oks new NGO law    Egypt's parliament's 5th convocation sessions to be aired live: Parliament speaker    Cairo hosts 6th meeting of Egyptian-Sudanese military committee    Egypt inaugurates museum to honor late novelist Naguib Mahfouz    Bookmakers expects Egypt's Mo Salah might miss the year's Ballon D'or award    Fired MP detained pending investigations over corruption charges    Egypt sees national population growth rate to halve before 2052    AFCON quarter-finals: Desert Warriors face Ivorian Elephants in early final    Orange Egypt removes Warda from ad campaign after harassment case    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

European stocks to open lower after Fed cools rate cut hopes
Published in Amwal Al Ghad on 26 - 06 - 2019

European stocks are set to open lower Wednesday after U.S. Federal Reserve chairman Jerome Powell tempered expectations of an imminent cut to interest rates.
The FTSE 100 is seen around 20 points down at 5,402, the DAX is expected to open around 39 points lower at 12,189, and the CAC is set to tick around 10 points lower to 5,504.
Investors worldwide are also awaiting the impending meeting between U.S. President Donald Trump and Chinese President Xi Jinping on Saturday at the G-20 summit in Osaka, in the hope that the world's two largest economies will at least agree a ceasefire on escalating trade tariffs.
Asian shares slipped Wednesday afternoon after Powell reiterated the central bank's "independence" in a speech, and issued a warning about policy caving to "short-term political interests" amid pressure from President Trump to cut rates.
In corporate news, Reuters reported Tuesday that rural U.S. telecom carriers dependent on Chinese giant Huawei for network gear are in discussions with European rivals Ericsson and Nokia as possible replacements.
Meanwhile, German electric utility group E.ON has offered to sell assets in Hungary, Germany and the Czech Republic to address antitrust concerns from the European Union surrounding the company's bid for rival Innogy's network and retail assets.
Source: CNBC

Clic here to read the story from its source.