European stocks appear to open higher on Friday. Early morning data shows that UK economic growth has stagnated in July.
Pan-European Stoxx 600 It was flat at 8:30am (3:30am ET) in London, and there was no widespread consensus movement among the sector or major accusations.
Data released on Friday morning showed that the UK economy recorded zero growth in July, following an economic expansion of 0.4% the previous month. The economic flatline will add to considerations for the Bank of England, preparing to update its monetary policy next week.
On Thursday, the European Central Bank did not change significant interest rates in a highly anticipated move.
Corporate News offers Spanish Lenders SabadelThe board unanimously recommended that bank shareholders reject hostile purchase bids from domestic peers. BBVA.
Sabadell CEO César González-Bueno told CNBC on Friday that the banks undervalued the 1.5 billion euro ($17.6 billion) bid.
Sabadell shares were 0.7% lower in early trade on Friday, while BBVA stock was 0.5% lower.
Stocks The Wind of Vestas A fall towards the bottom of the Stoxx 600 in morning trade, dropping 4.3% after U.S. Interior Secretary Doug Burgum said that offshore winds from reporters would not be used as a source of electricity under President Donald Trump’s leader.
“Under this administration, there is no offshore wind future because it is too expensive and unreliable, so there is no offshore wind future,” he told reporters Thursday.
Other places, Ryan Air CEO Michael O’Leary told the Financial Times that budget airlines are ready to cut another million tickets to Spain amid the ongoing line over the country’s tax policy.
Ryanair shares saw a 1% higher trade in the end.
Overnight in Asia, stocks were significantly higher, with US futures barely changing.
International investors look forward to the Federal Open Market Committee of the US Federal Reserve, scheduled to take place on September 16th and 17th.
According to CME’s FedWatch tool, the money market is overwhelmingly priced with 25 point rate cuts from Fed policymakers when convened next week. The US core inflation rate rose to 3.1% per year in August. Data was shown Thursday, paving the way for the Fed to cut key interest rates.
-CNBC’s Spencer Kimball contributed to this report.
