Europe Economy

FTSE, CAC, DAX Seen Opening Flat

European opening calls are expected to open flat Thursday on the back of positive employment data from the US which lifted shares overnight in Asia.

The FTSE 100 is seen 4 points lower, The DAX is seen higher by 13 points and the CAC 40 just 1 point lower.

Earnings season continues today as oil giant Shell , Deutsche Bank, Unilever and Astrazeneca are among those reporting today.

Facebook made its much-anticipated filing for an IPO in the US. The filing stated that the company hopes to raise up to $5 billion though this could go higher.

In Europe, Greece continues its talks with its private-sector creditors with reports suggesting that a deal could see creditors receive new bonds worth half the face value of their existing bonds.

Both Spain and France will hold bond auctions on Thursday with Spain expected to tender between 4 and 5 billion euros ($5.3 to $6.6 billion) of 3, 4 and 5 year bonds at 9.30am GMT followed by France’s bond sale of between 6.5 and 8.5 billion euros of longer-dated bonds at 9.50am GMT.

German Chancellor Angela Merkel is in China with talks expected to take place with both the Chinese president Hu Jintao and Premier Wen Jiabao.

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