European markets were called to open lower on Friday after new stimulus measures announced by central banks failed to inspire investor confidence and markets waited for a crucial U.S. employment report.
The FTSE was seen opening 18 points lower at 5675, the DAX was called to open 30 points lower at 6506 and the CAC 40 was expected to open down 24 points at 3205.
China, the euro zone and the U.K. all loosened monetary policy on Thursday with all three of the announcements coming within an hour, in a sign of continuing concern over the slowing of the global economy.
While the actions by the European Central Bank (ECB), which lowed the headline euro zone interest by 25 basis points to 0.75 percent, and the U.K.’s Bank of England (BoE), which injected a further 50 million pounds into the U.K. economy, were expected, the People’s Bank of China (PBOC), China’s central bank, surprised the markets by lowering its lending rate by 31 basis points to 6 percent.
The move came immediately after the BoE announcement and is the second time in as many months China’s central bank has lowered interest rates.Page 1 of 3 | Next Page