European Stock Index Futures Rise, Data in Focus

European stock index futures pointed to a stronger open for equities on Friday, after shares hit a near-one month high a day earlier, with focus likely to be on manufacturing data from both sides of the Atlantic for clues on the health of the economy.

Close-up of a pen on stock price chart
Close-up of a pen on stock price chart

Futures for Germany's DAX and for France's CAC were up 0.1 to 0.2 percent. Financial bookmakers expect the FTSE 100 index to open unchanged to down 5 points, or 0.1 percent lower on Friday.

On Thursday, London’s FTSE closed up 36.95 points for the quarter to 5945.71, the CAC 40 was down 6.97 points this quarter to 3982.21, and Germany’s DAX ended the quarter 334.93 points higher to 7376.24.

In the US, stocks also closed the second quarter on a bullish note helped by positive news on Greece and despite the end of the Federal Reserve's quantitative easing program under which it was buying Treasurys from the markets to inject liquidity.

In Asia stocks were mostly up on Friday, with investors relieved that a Japanese economic recovery is expected in the coming quarter; but Australian stocks fell following the release of Chinese PMI data for June, showing a 28-month low in factory activity in the world's second largest economy.

The euro last traded at $1.4491 in Asia on Friday down from $1.4504 late in New York where it topped out near $1.4539 – highs not seen since June 10.

A raft of PMI data from Europe will be released on Friday, starting with Russia at 6:00 London time.

French manufacturing PMI figures will be available from 8:50, followed by Germany at 8:55, the euro zone at 9:00 and Greece also at 9:00.

UK PMI data for June will be out at 9:30 and European Union unemployment figures for May are available from 10:00 London time.

Retail giant Tesco will hold its AGM in Britain on Friday where shareholders have been advised by corporate governance firm Pirc to vote against changes to the pay policy for senior executives.

Poland takes over the rotating six-month presidency of the Council of the European Union on Friday, with a ceremony in Warsaw planned to mark the occasion.

In Frankfurt, China Speciality Glass and Prime Office AG will be floated on the Deutsche Borse and military conscription in Germany will come to an end on Friday.

In Monaco, Prince Albert II will marry South African Charlene Wittstock in a civil ceremony in the Throne Room of the Prince's Palace.

A ban on Russian grain exports imposed last August following a drought and several fires is expected to be lifted on Friday.