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EUROPEAN SHARES DIRECTIONLESS AS GROWTH WORRIES GIVE INVESTORS PAUSE (0628 GMT)
Spreadbetters’ indications see European shares floundering at the open after a weaker session in Asia where Chinese and Hong Kong shares tumbled. The S&P 500 marked its lowest close since April 2 on Friday, banishing once and for all any hopes of a Santa rally.
Any gains this week will likely be capped with all eyes on the Fed and other central bank decisions. “This week is full of central bank meetings, but a majority of them will probably deliver no change,” write Societe Generale analysts.
Asian share markets began the week on a cautious note after soft economic data from China and Europe added to evidence of cooling global growth and reinforced anxiety over the broadening impact of international trade frictions.
Financial spreadbetters at IG expect London’s FTSE to open 3 points lower at 6842, Frankfurt’s DAX to open 20 points higher at 10886 and Paris’ CAC to open flat at 4,854.