European stock-index futures, US index futures little changed. All eyes on Draghi

European stock-index futures, US index futures little changed. All eyes on Draghi

25 September 2014, 09:32
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European stock-index futures were little changed on Thursday, after equities recovered from their biggest drop in 11 weeks, as investors awaited a speech by European Central Bank President Mario Draghi.

Asian shares fell everywhere besides Japan, while U.S. index futures were also little changed.

Novartis AG may be active after saying its treatment for psoriatic arthritis met the objectives in a clinical study. Air France-KLM Group may move after withdrawing a plan to set up a low-cost subsidiary, removing a factor that led its French pilots to strike. Barclays Plc may after the Financial Times reported that the U.K.’s Serious Fraud Office is probing whether bank officials made misleading statements about its dealings with Qatar.

Futures on the Euro Stoxx 50 Index expiring in December were unchanged at 3,234 as of 7:15 a.m. in London after Draghi told Lithuanian newspaper Verslo Zinios that the euro-area economic recovery seems to have lost its momentum.

Contracts on the U.K.’s FTSE 100 Index gained less than 0.1 percent.

Standard & Poor’s 500 Index futures slipped 0.1 percent.

The MSCI AC Asia Pacific Excluding Japan Index lost 0.4 percent.

“European equities are set to open flat,” Jonathan Sudaria, a trader at London Capital Group Holdings Plc in London, wrote.

“Reports that Draghi has given a dovish interview to a paper going to print today hit the news wires, which saw an immediate effect in currency markets. However, on first glance, it doesn’t seem to have filtered through to sentiment in equity markets. The problem with Draghi is he is the central banker that cries wolf so it’s unlikely that he will be able to levitate markets with the same story again.”

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