Breaking News
Black Friday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

European Stock Futures Largely Higher; PMI Numbers Due

Stock MarketsMay 21, 2021 15:15
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.

By Peter Nurse - European stock markets are seen opening largely higher Friday, continuing the strong gains from the previous session as optimism over the region’s outlook strengthens as it gradually gets to grips with the Covid-19 pandemic. 

the  2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.2% higher, the FTSE 100 futures contract in the U.K. rose 0.1%, while CAC 40 futures in France dropped 0.2%. 

The major European indices closed sharply higher Thursday--with the DAX climbing 1.7%, the CAC 40 gaining 1.3% and the FTSE 100 1%--as investor appetite for riskier assets returned.

Credit Suisse (SIX:CSGN) upgraded its investment stance on continental European equities to ‘overweight’ on Thursday, citing a catch-up in economic recovery, valuations and excess liquidity.

Helping the region’s vaccination program, the U.K. medicine regulator approved new storage conditions for the Pfizer/BioNTech Covid vaccine, saying it can now be stored for 31 days, up from 5, at regular fridge temperature after being thawed. More worryingly, cases of a new variant of Covid-19 first identified in India doubled in the U.K. for the second week in a row.

Additionally, the World Health Organization's regional director for Europe said the vaccines being used on the continent - including the Pfizer/BioNTech vaccine - appeared able to protect against the current variants in circulation.

Investors will also be monitoring a slew of May’s flash PMI readings out of the Eurozone and the U.K. on Friday morning.

Earlier, U.K. retail sales jumped 9.2% on the month in April, a substantial rise from the 5.1% increase the previous month, and indicative of consumers returning as shops gradually reopened.

In corporate news, Richemont (SIX:CFR) is likely to be in focus Friday after the luxury goods company proposed to double its dividend, reflecting a 38% rise in net profit in its fiscal year 2020/21.

Oil prices edged higher Friday, recovering some lost ground after three days of selling as traders started to factor in the potential return of Iranian crude supplies.

Iran and world powers have been in talks since April on reviving the 2015 deal which limited Iran’s nuclear program. These talks appear to be making progress after Iran's president said the United States was ready to lift sanctions on his country's oil, banking and shipping sectors.

U.S. crude futures traded 0.3% higher at $62.11 a barrel, while the Brent contract rose 0.1% to $65.20. Both contracts are still down nearly 5% this week and on track to post their biggest weekly loss since March.

Additionally, gold futures fell 0.3% to $1,875.55/oz, but are still on track for a third consecutive weekly rise, while EUR/USD traded 0.1% higher at 1.2237.


European Stock Futures Largely Higher; PMI Numbers Due

Related Articles

Morgan Stanley Can See Dollar Tree at $170 Soon
Morgan Stanley Can See Dollar Tree at $170 Soon By - Nov 27, 2021 1

By Sam Boughedda — Morgan Stanley told investors Friday that it wouldn't surprise them to see Dollar Tree Inc (NASDAQ:DLTR) continue to drift toward the $170 to...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email