European stocks set to open higher, attention on the BNP

European stocks set to open higher, attention on the BNP

30 June 2014, 09:15
Anton Esin
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European stocks were seen rising on Monday. Investors hope the reports from U.S. and Europe due in the week will soothe recent worries over the pace of economic growth.

Shares in French bank BNP Paribas will be in focus after the U.S. Justice Department's report. Expected that it'll say on Monday a settlement with BNP involving a record fine of nearly $9 billion over alleged U.S. sanctions violations. 

At 0616 GMT, futures for Euro STOXX 50, for UK's FTSE 100, for Germany's DAX and for France's CAC were up 0.1-0.2 percent.

Investors will also focus on a batch of European macro indicators, including euro zone inflation data for June, due at 0900 GMT on Monday - which should show inflation stuck at a low 0.5 percent, the ninth consecutive month in the ECB's "danger zone" of below 1 percent.

The FTSEurofirst 300 index of top European shares slipped 1.7 percent last week, hurt by downbeat U.S. growth data as well as worries over violence in Iraq, snapping a 10-week long run of weekly gains - its longest winning streak since mid-2012.

But despite the week's pull-back, investors remain positive on the longer-term.
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