October 20, 2021

European markets head for higher open as investors digest Fed comments

European stocks are expected to open higher Thursday as global markets react to the latest statements from the U.S. Federal Reserve in which it said it was not ready to taper monetary stimulus yet.

Britain’s FTSE is seen opening 25 points higher at 7,101, Germany’s DAX 71 points higher at 15,561, France’s CAC 40 up 27 points at 6,657 and Italy’s FTSE MIB 97 points higher at 25,490, according to IG data.

European stocks are set to follow their U.S. counterparts with a solid rally after the Federal Reserve indicated on Wednesday that it doesn’t see an imminent rollback of the monetary stimulus that has been supporting the economy throughout the pandemic.

“If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted,” the Fed’s post-meeting statement said, however. The central bank has been buying $120 billion a…

Read full article here: www.cnbc.com