European Markets May Stay Rangebound Amid Thin Volumes

European Markets May Stay Rangebound Amid Thin Volumes

With several markets closed for Labour Day holiday, volume of business in European markets, where trading will be on today, is expected to be quite thin.

Modestly higher U.S. index futures point to a slightly positive opening for European markets, but stocks may find it tough to sustin at higher levels.

Wall Steet closed notably lower overnight with investors largely treading cautiously ahead of Wednesday’s monetary policy statement from the Federal Reserve. The Fed is widely expected to hold rates steady for now, and markets are looking at a rate hike in June.

In the currency market, the U.S. dollar is currently trading 0.1 percent higher against Euro and Pound Sterling.

Major European markets ended slightly higher on Monday. Markets in Germany, France and Poland are closed for Labour Day holiday. The mood in rest of the markets in the region is likely to be cautious today.

In the U.K. market, BP will be in focus after the company reported a 71 percent jump in profit for the quarter ended March 2018. Higher oil and gas prices and increased production lifted the company’s net income to $2.6 billion, from year-ago period’s net income of $1.5 billion.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

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