European Shares Seen Mixed As Focus Shifts To Central Bank Meetings
(RTTNews) - European stocks look set to open on a mixed note Monday as focus shifts to the Federal Reserve's two-day policy meeting, which will begin Tuesday.
The Fed is widely expected to raise interest rates by another 75 basis points, although some see an outside chance for a 100-basis point rate hike.
Asian stocks were subdued, with Japanese markets closed for a holiday.
This week is littered with 13 central bank meetings, with the BOJ, SNB and BOE all lined up.
The People's Bank of China cut its 14-day reverse repo rates today and stepped up cash injections to counteract higher demand towards the quarter-end.
The dollar was off its 20-year peak as more ECB officials warned about interest-rate rises. Gold prices edged lower while oil prices rose as the Chinese megacity of Chengdu exited a two-week lockdown.
U.S. stocks fell on Friday to hit two-month lows as a profit warning from global delivery bellwether FedEx heightened fears of a recession.
The Dow shed half a percent, the tech-heavy Nasdaq Composite gave up 0.9 percent and the S&P 500 declined 0.7 percent.
European stocks tumbled on Friday as the IMF and the World Bank flagged recession risks.
The pan European Stoxx 600 lost 1.6 percent. The German DAX fell 1.7 percent, France's CAC 40 index dropped 1.3 percent and the U.K.'s FTSE 100 dipped 0.6 percent.
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