LONDON — European markets are heading for an uncertain open on Friday as global stocks close out a week of extreme volatility following the U.S. Federal Reserve’s monetary policy meeting.
Britain’s FTSE 100 is seen around 10 points higher at 7,564, Germany’s DAX is set to fall by around 48 points to 15,466 and France’s CAC 40 is expected to add around 14 points to 7,038, according to IG data.
Markets have whipsawed throughout the week as investors reacted to the Fed’s indication on Wednesday that it could soon raise interest rates for the first time in more than three years, and to rising geopolitical tensions between Russia and the West over Ukraine.
After a sharply negative open on Thursday, European stocks clawed back losses and closed 0.7% higher after U.S. GDP figures came in stronger than expected.
Shares in Asia-Pacific were mostly higher on Friday after another wild session on Wall Street, while U.S. stock futures pointed to a higher open on Wall Street later in the day, boosted by gains for Apple after the company reported its largest ever single quarter in terms of revenue.
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Earnings in Europe on Friday come from H&M and Fresnillo, while economic data releases include flash German, French and Spanish fourth-quarter GDP numbers, Italian inflation prints and a euro zone business climate survey.
French luxury goods conglomerate LVMH on Thursday said it sees a surge in demand for its fashion, handbags and jewelry products persisting into 2022 after a sharp acceleration in fourth-quarter sales growth to 20.04 billion euros ($22.34 billion).
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