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FTSE, DAX, CAC, Seen Higher, IMF Loan for Greece Eyed

The main European markets were expected to open slightly higher Thursday ahead of the expected approval of a 28 billion euro ($36.49 billion) loan for debt-plagued Greece by the International Monetary Fund.

uP CHART
uP CHART

The IMF executive board is expected to approve the loan on Thursday, according Dow Jones which cited people familiar with the matter, bringing to a close a couple of months of worries about whether Greece would have a disorderly default.

Concerns about Chinese growth sent most Asian markets down slightly Thursday.

The dollar rose in Asian trading, helped by a brighter economic outlook.

The FTSE could be affected by the news that ratings agency Fitch revised down its outlook on Britain's coveted AAA rating to negative on Wednesday.

The agency warned that the country had more than a 1-in-2 chance of losing the rating as the UK government had “limited fiscal space” left for manoeuvre.

Retailer Tesco's share price could be affected by a Sky News report that Richard Brasher, head of its UK business, is to step down after a recent profit warning by the supermarket.

The news is expected to be confirmed at market open.