European markets are set to open lower on Friday, as investors eye new data and assess the future path of interest rate cuts following hawkish comments from US Federal Reserve Chairman Jerome Powell.
UK FTSE 100 index The index saw it open 13 points lower at 8,054 in Germany Dax 39 points down to 19210 France Kak Italy fell 26 points to 7,283 points FTSE MIB indicator 129 points to 33,966, according to IG data.
The European Stoxx 600 index closed 1% higher in the previous session, as traders took stock of another busy earnings day, with British luxury company Burberry's stock jumping 22% thanks to strategic reform plans.
Investors on Friday looked to new UK GDP data to gain insight into the state of the British economy – the first reading since the Labor government's budget announcement in October.
Earnings reports are also due from Egon, ExperianCEPSA, among others.
Across the Atlantic, Powell said Thursday that strong economic growth in the United States allows policymakers to take their time in determining how far and how quickly to cut interest rates.
US stock futures fell overnight as Wall Street continued to assess the comments and future path of the rally post-election. Meanwhile, Asian markets were mixed during Friday's session.
