Europe Economy

FTSE, CAC, DAX Seen Opening Broadly Flat

European stock markets are seen opening broadly flat Thursday after Wednesday's sell-off following a disappointing German Bund sale which is compounding fears of a worsening euro zone debt crisis.

The FTSEwas called higher by 8 points, the Dax up by 12 points and the CAC 40 up by just 4 points.

Volume is expected to be light, with US markets closed for the Thanksgiving holiday.

The euro zone debt crisis continues to dominate the news from the region as German Chancellor Angela Merkel warned on Wednesday that the common Eurobond proposal was "inappropriate now" because it would assume shared responsibility for debt.

The ratings agency Fitch sent out a warning to France that it's coveted triple-A rating would be under threat if there were any further shocks arise.

A tripartite meeting between German Chancellor Angela Merkel, French president Nicolas Sarkozy and new Italian Prime Minister Mario Monti in Strasbourg is expected to show support for the new PM and discuss how best to prevent the third largest economy in the euro zone from sliding towards default.

In the UK miner Antofagasta's third quarter numbers are due and Thomas Cook, Europe's second largest holiday tour operator will be reporting after last week 's announcing that it was requesting further lines of credit from its lenders.

The news saw its share price plummet by around 75 percent immediately after the announcement.

Arcadia, one of the UK's largest retail companies owner of high street brands including Topshop, Dorothy Perkins and BHS will also announce its annual results.

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