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European markets were expected to open with a mixed picture Friday, after falling Thursday in the light of disappointment over European Central Bank (ECB) President Mario Draghi’s comments.
The FTSE was predicted to open up 7 points at 5669, while the DAX was called 6 points lower at 6560, the CAC unchanged at 3234 and the IBEX, the main Spanish index, 3 points lower at 6370 after yesterday’s falls.
Draghi told journalists that the ECB “cannot replace governments” in a press conference following the ECB’s decision to keep interest rates on hold at 0.75 percent yet again Thursday. ECB Provides a Little Breathing Space, but No More
His remarks disappointed investors who had been hoping for the ECB to prop up the euro zone via an immediate stimulus program . Central Bankers Moving Like Turtles, When Market Wants Hares
Optimism had risen after Draghi said he would do “whatever it takes” to save the euro last week.
The latest euro zone PMI Services figures, released at 9 a.m. BST, will give some more clues to the current economic situation in the euro zone.
Italian banks UniCredit and Intesa SanPaolo both report Friday, and are expected to give some insight into how worries about the Italian economy are affecting them.
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